As reported in January, JCDecaux's consolidated revenues increased by 22.5% year on year to €2,350m in 2010. Excluding the impact of acquisitions and foreign exchange the rise was 9.1%.
Net income before tax, which is similar to pre-tax profit, was €248.1m during 2010, up an impressive 242.2% from a net income before tax of €72.5m during 2009.
JCDecaux, despite the improved results, said the executive board will not recommend the payment of a dividend for the financial year 2010 to ensure the company is "well prepared to seize consolidation opportunities should they arise".
Speculation about what JCDecaux might buy has increased in recent months after senior executives, including Jean-Charles and Jean-Francois Decaux, said the group was looking for acquisitions, particularly in the US.
Earlier this week Leslie Moonves, chief executive of CBS Corp, the parent group of CBS Outdoor told the Deutsche Bank Media and Telecom investor conference in Florida that outdoor was not a "core business".
When questioned today Jean-Charles Decaux, chairman of the executive board and co-chief executive, said he would look at CBS Outdoor "if the dossier came up" and, as JCDecaux wants to increase its market share in the US, described itself as a "natural buyer".
In the UK CBS Outdoor has a number of assets, predominately in the transit space – most notably the contract for advertising on the London Underground.
Jean-Charles Decaux said: "As in the past, we will continue to exercise diligence and discipline when assessing growth opportunities that we believe might be in the best interest of all our stakeholders."
Group operating margin was €555.4m, up by 41.7% from €392.0m in 2009. Operating margin is defined as revenues less direct operating expenses, excluding maintenance spare parts, and less selling, general and administrative expenses.
Jean-Charles Decaux said: "Our 2010 results clearly demonstrate that JCDecaux has emerged in a stronger market position post crisis and we were pleased to be able to announce recently our world leadership in outdoor advertising.
"The strong operating margin performance achieved in 2010 reflects a balanced cost and capital allocation strategy, which has enabled the Group to continue to increase its business in fast growing markets while maximising the positive leverage of recovering revenues in developed markets."
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