Non-designated Markets - Radio FM - British Columbia and Territories

Radio - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Reporting Units 60 61 - 62 - 63 - 63 - -

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 38,764,720 40,845,296 5.37 40,649,656 -0.48 40,453,381 -0.48 40,013,913 -1.09 0.8
National Time Sales 11,785,282 14,212,475 20.60 13,309,294 -6.35 13,217,747 -0.69 12,896,232 -2.43 2.3
Syndication-Production 91,535 65,333 -28.63 73,690 12.79 72,208 -2.01 345,627 378.65 39.4
Government/Corporate Grants 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Other Revenue 453,120 150,701 -66.74 146,779 -2.60 569,394 287.93 382,726 -32.78 -4.1
Total Revenue 51,094,657 55,273,805 8.18 54,179,419 -1.98 54,312,730 0.25 53,638,498 -1.24 1.2

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 14,461,626 15,749,829 8.91 16,368,312 3.93 16,216,705 -0.93 15,405,012 -5.01 1.6
Technical 2,441,657 2,635,904 7.96 2,506,331 -4.92 2,804,880 11.91 2,385,293 -14.96 -0.6
Sales and Promotion 14,234,849 14,780,995 3.84 14,299,589 -3.26 14,438,761 0.97 14,595,431 1.09 0.6
Administration and General 13,614,522 13,966,012 2.58 14,361,105 2.83 13,431,747 -6.47 13,113,459 -2.37 -0.9
Total Expenses 44,752,654 47,132,740 5.32 47,535,337 0.85 46,892,093 -1.35 45,499,195 -2.97 0.4

Performance ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Income 6,342,003 8,141,065 - 6,644,082 - 7,420,637 - 8,139,303 - -
Depreciation 1,458,816 1,429,548 -2.01 1,635,159 14.38 1,486,274 -9.11 1,530,650 2.99 1.2
P.B.I.T. 4,883,187 6,711,517 - 5,008,923 - 5,934,363 - 6,608,653 - -
Interest Expense 690,393 750,235 - 872,090 - 825,205 - 1,147,908 - -
Adjustments Gain(Loss) -2,336,484 -5,947,403 - -10,262,004 - -1,612,714 - -724,969 - -
Pre-tax Profit 1,856,310 13,879 - -6,125,171 - 3,496,444 - 4,735,776 - -

Programming and Production (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Prog-Prod Expense / Expense Total 32.3 33.4 - 34.4 - 34.6 - 33.9 - -
Prog-Prod Expense / Revenue Total 28.3 28.5 - 30.2 - 29.9 - 28.7 - -

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration ($) 26,612,555 27,580,865 3.64 26,713,195 -3.15 26,039,194 -2.52 25,515,055 -2.01 -1.1
Total Staff Count 501.0 518.1 3.43 501.8 -3.16 500.0 -0.36 501.7 0.34 -
Avg Remuneration ($) 53,124 53,231 0.20 53,238 0.01 52,082 -2.17 50,859 -2.35 -1.1
Avg Remuneration excl. Benefits ($) 47,561 47,276 -0.60 47,737 0.98 47,244 -1.03 45,634 -3.41 -1.0

Profitability (%)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Operating Margin 12.4 14.7 - 12.3 - 13.7 - 15.2 - -
P.B.I.T. Margin 9.6 12.1 - 9.2 - 10.9 - 12.3 - -
Pre-tax Margin 3.6 0.0 - -11.3 - 6.4 - 8.8 - -

CAGR = Compound Annual Growth Rate

P.B.I.T. = Profit Before Interest and Tax

Var = Variation

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