Private Television - Financial Summary - Quebec

Conventional Television - Financial Summary 2012-2016

Table of Contents

Reporting Units
2012 2013 2014 2015 2016
23 23 23 24 24

Revenue ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Local Time Sales 82,538,492 87,665,418 6.21 84,526,532 -3.58 86,324,511 2.13 87,834,299 1.75 1.6
National Time Sales 158,903,521 152,042,598 -4.32 132,041,089 -13.16 123,886,964 -6.18 116,659,974 -5.83 -7.4
Network Payments 109,978,557 108,995,382 -0.89 109,348,128 0.32 102,565,740 -6.20 98,875,379 -3.60 -2.6
Infomercials 6,756,369 7,732,683 14.45 6,272,621 -18.88 4,963,178 -20.88 4,548,791 -8.35 -9.4
Syndication-Production 8,623,424 7,441,505 -13.71 7,468,281 0.36 7,169,577 -4.00 7,884,820 9.98 -2.2
Local Programming Improvement Fund 14,201,917 9,155,553 -35.53 5,047,309 -44.87 - - - - n/a
Small Market Local Programming Fund - - - - - 1,903,367 - 1,901,799 -0.08 n/a
Government Grants 0 0 n/a 0 n/a 213,409 n/a 213,409 0.00 n/a
Other Revenue 55,074,048 56,455,484 2.51 46,544,163 -17.56 44,286,013 -4.85 43,664,047 -1.40 -5.6
Total Revenue 436,076,328 429,488,623 -1.51 391,248,123 -8.90 371,312,759 -5.10 361,582,518 -2.62 -4.6

Expenses ($)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Programming and Production 262,492,771 258,787,456 -1.41 263,002,357 1.63 244,044,565 -7.21 238,221,727 -2.39 -2.4
Technical 22,729,371 23,306,447 2.54 22,875,947 -1.85 22,710,919 -0.72 22,158,982 -2.43 -0.6
Sales and Promotion 62,372,153 53,934,769 -13.53 53,099,800 -1.55 55,719,928 4.93 54,220,686 -2.69 -3.4
Administration and General 38,801,956 46,706,073 20.37 42,143,239 -9.77 38,232,612 -9.28 35,518,339 -7.10 -2.2
Total Expenses 386,396,251 382,734,745 -0.95 381,121,343 -0.42 360,708,024 -5.36 350,119,734 -2.94 -2.4
Operating Income (Loss) 49,680,077 46,753,878 - 10,126,780 - 10,604,735 - 11,462,784 - -
Depreciation 21,578,717 22,590,004 4.69 22,306,908 -1.25 22,399,204 0.41 21,366,672 -4.61 -0.3
P.B.I.T. 28,101,360 24,163,874 - -12,180,128 - -11,794,469 - -9,903,888 - -
Interest Expense 5,877,171 6,234,691 6.08 5,168,398 -17.10 3,775,061 -26.96 -3,612,901 -195.70 -
Adjustments Gain (Loss) -17,071,460 1,025,735 - -32,974,286 - -63,778,349 - -8,064,365 - -
Pre-tax Profit 5,152,729 18,954,918 - -50,322,812 - -79,347,879 - -14,355,352 - -

Canadian Programming Expenses (CPE)
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Canadian Programming Expenses (CPE) 195,262,314 192,456,836 -1.44 195,573,630 1.62 184,377,498 -5.72 178,942,804 -2.95 -2.2
CPE / Revenue (%) 44.8 44.8 - 50.0 - 49.7 - 49.5 - -

Programming and Production (%)
2012 2013 2014 2015 2016
Prog-Prod Expense/Expense Total 67.9 67.6 69.0 67.7 68.0
Prog-Prod Expense/Revenue Total 60.2 60.3 67.2 65.7 65.9

Staff
2012 2013 Var % 2014 Var % 2015 Var % 2016 Var % CAGR (%)
Total Remuneration 138,692,011 140,326,989 1.18 137,124,284 -2.28 132,849,299 -3.12 124,172,010 -6.53 -2.7
Total Staff Count 1,683.4 1,627.6 -3.31 1,555.6 -4.42 1,458.1 -6.27 1,347.4 -7.59 -
Avg Remuneration ($) 82,388 86,216 4.65 88,147 2.24 91,112 3.36 92,157 1.15 2.8
Avg Remuneration Without Fringe Benefits ($) 69,035 70,678 2.38 71,094 0.59 73,427 3.28 73,160 -0.36 1.5

Profitability (%)
2012 2013 2014 2015 2016
Operating Margin 11.4 10.9 2.6 2.9 3.2
P.B.I.T. Margin 6.4 5.6 -3.1 -3.2 -2.7
Pre-tax Margin 1.2 4.4 -12.9 -21.4 -4.0

CAGR = Compound Annual Growth Rate

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

Var = Variation

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