H1 Results: Revenues up 20% at €1,110.6 million and strong free cash flow generation

• Organic revenues up 11.3% in Q2 2010, + 8.7% in H1 2010

• Operating margin up 48.2% to €246.6 million

• EBIT up 129.7% to €113.7 million

• Net income increased to €65.0 million from €4.4 million in H1 2009

• Free cash flow of €119.0 million compared to - €1.7 million in H1 2009

• Q3 2010 organic revenue growth anticipated to be at least in line with Q2

Paris, 30 July 30th 2010 – JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company in Europe and Asia-Pacific and the number two worldwide, published today its 2010 half year financial results.

Revenues for the six months ended 30 June 2010 were up 20.0% to €1,110.6 million compared to the same period last year. Excluding acquisitions and the impact of foreign exchange, organic revenue growth was 8.7%. Core advertising revenues, excluding revenues related to the sale, rental and maintenance of street furniture products increased by 9.1% organically over the period.

In the second quarter, consolidated revenues increased by 24.5% to €623.4 million (+11.3% on an organic basis) compared to the same period last year. Core advertising revenues increased by 11.8% organically in the second quarter. The rebound in advertising revenues continued in the second quarter across the different geographies of the Group reflecting improved economic conditions as well as an easier comparable in Q2 2009.

Reported revenues grew faster than organic revenues mainly due to the integration of the recently acquired assets, Wall in Germany and Turkey and Titan in the UK. Reported revenues also benefitted from positive foreign exchange variations in the main currencies of the Group against the euro.

Operating margin increased by 48.2% to €246.6 million from €166.4 million in the first half of 2009. The Group’s operating margin as a percentage of consolidated revenues was 22.2%, an increase of 420 basis points compared to the prior period (H1 2009: 18.0%), reflecting the operating leverage of the Group.

Commenting on the 2010 first half results, Jean-Charles Decaux, Chairman of the Board and co-Chief Executive Officer, said:

“Our H1 2010 numbers reflect a clear improvement in organic revenues driven by our key markets – France, the United Kingdom, China and the USA – as advertisers raised their levels of spending and increasingly favoured the quality of JCDecaux’s portfolio. The assets recently acquired in Germany, Turkey and the UK also performed very well during the first six months of the year highlighting the significant potential of their further integration into JCDecaux’s commercial networks. As expected, the double-digit revenue increase led to a significant rebound in the Group’s operating margin and free cash flow.

While the potential impact of austerity measures on consumption and the global economy remains unclear, short term trading conditions continue to be positive in most markets. As a consequence we anticipate for the third quarter of 2010 organic revenue growth to be at least in line with Q2 despite less favourable comparables. This, combined with continuous strict cost management and low capital expenditure, should sustain strong free cash flow generation.

We believe that JCDecaux is increasingly well positioned within its industry thanks to the quality of its teams, its clear leadership in the dynamic Street Furniture and Transport advertising activities, a strong balance sheet and a well diversified geographical mix enhanced by its unique emerging market exposure.”

HALF-YEARLY FINANCIAL STATEMENTS

Reported revenues

Organic growth (a)

Revenues by geographic area:

(a) Excluding acquisitions/divestitures and the impact of foreign exchange

(b) Excluding France and the United Kingdom

Street Furniture:

In the second quarter, revenues increased by 23.9% to €304.8 million (+8.9% on an organic basis) compared to the same period last year. Core advertising revenues increased by 8.9% organically.

Revenues for the first half of 2010 increased by 23.7% to €550.1 million from €444.7 million in the first half of last year, reflecting a strong 8.9% organic revenue growth as well as the contribution of Wall assets, mainly in Germany and Turkey, and Titan point of sale assets in the UK. Core advertising revenues, excluding revenues related to the sale, rental and maintenance of street furniture products increased by 9.3% organically.

All geographies recorded second quarter revenue growth - both reported and organic - broadly in line with the first quarter of 2010 with leading performances in France, the United Kingdom, North America and Asia-Pacific. Wall and Titan assets performed well even though the commercial integration of Wall and JCDecaux’s German networks will only commence from September 2010 onwards. Advertiser demand for Street Furniture remained strong across the board leading to higher occupancy rates and some improvement in the pricing environment.

Transport:

In the second quarter, revenues increased by 32.5% to €202.1 million (+16.8% on an organic basis).

Revenues increased by 21.0% over the first half of the year to €350.8 million from €290.0 million in the same period last year. Excluding the acquisitions of transport assets from Titan and Wall and the impact of foreign exchange, organic revenues increased by 10.2%.

During the second quarter, the Transport division reported double-digit organic revenue growth with strong double-digit growth in Asia-Pacific and to a lesser extent in North America reflecting improving economic conditions and passenger traffic as well as a favourable business environment in China in the context of the Shanghai 2010 World Expo. Most European markets, with the exception of the United Kingdom, returned to organic growth in the second quarter. The Rest of the World reported a reduced organic revenue decline compared to the first quarter of 2010 dragged down by the improving but still challenging business conditions in Dubai airport.

Billboard:

In the second quarter, revenues increased by 14.0% to €116.5 million (+9.0% on an organic basis).

Revenues for the first half of the year increased by 10.0% to €209.7 million from €190.7 million in the same period last year. Excluding acquisitions and the impact of foreign exchange, organic revenues increased by 5.8% over the period.

During the second quarter the Billboard division continued to benefit from the strong rebound in organic revenues in the United Kingdom and to a lesser extent in France. However this was again offset by the difficult business conditions in certain markets of the rest of Europe where low single-digit organic revenue decline was reported.

OPERATING MARGIN (1)

Street Furniture:

Operating margin increased by 28.8% to €172.1 million in the first half of the year. The operating margin as a percentage of revenues was 31.3%. Excluding the contribution of Wall and Titan on the Street Furniture division, the operating margin as a percentage of revenues was 32.0%, an increase of 200 basis points from 30.0% in the same period last year, reflecting a good operating leverage.

The increase in operating margin reflects the impact of the high single-digit organic revenue growth achieved in the first half of the year and the first-time contribution from the assets acquired in Germany, Turkey and the UK.

Transport:

Operating margin increased by 78.4% to €44.6 million in the first half of the year. The operating margin as a percentage of revenues was 12.7%. Excluding the contribution of Wall and Titan on the Transport division, the operating margin as a percentage of revenues was 12.4%, an increase of 380 basis points from 8.6% in the same period last year.

The operating margin increase reflects the strong rebound in organic revenues recorded in most countries where the Group operates as well as the contribution of the new assets, including Titan rail contracts. The operating margin as a percentage of revenues was positively impacted by the strong performance in Asia-Pacific.

Billboard:

Operating margin increased by 283.3% to €29.9 million in the first half. The operating margin as a percentage of revenues was 14.3%, an increase of 1,020 basis points from 4.1% in the same period last year.

This performance reflects the strong operating leverage in most markets with a significant contribution from the UK and France. The Group benefited from the full year impact of the recurrent cost saving measures implemented in 2009 mainly through an extensive review of its lease agreements.

EBIT (2)

EBIT increased by 129.7% to €113.7 million from €49.5 million in 2009. The Group’s EBIT margin was 10.2% of consolidated revenues, compared to 5.3% in the same period last year. The increase in EBIT mainly reflects the higher operating margin. Depreciation increased following the consolidation of Wall and Titan. Spare parts charges slightly increased over the period.

NET FINANCIAL INCOME (3)

Net Financial Income was - € 15.5 million compared to - € 18.1 million in the first half of 2009, which reflects the decrease in the average net debt and lower interest rates.

EQUITY AFFILIATES

• Share of net profit from equity affiliates increased by €13.8 million to €1.1 million, compared to
• - €12.7 million in 2009. Excluding the impact of impairment charges in 2009, share of net profit from equity affiliates increased by €7.2 million in H1 2010. Wall and Bigboard are no longer consolidated as equity affiliates.

NET INCOME GROUP SHARE

Net Income Group share increased to €65.0 million, compared to €4.4 million in the first half of 2009. This variation mainly reflects the increase in EBIT and the improved share of net profit from equity affiliates.

CAPITAL EXPENDITURE

Net capex (acquisition of tangible and intangible assets, net of disposals of assets) was €57.2 million, compared to €96.7 million in the prior year. Capital expenditure for the full year is expected to be at maximum €180 million.

FREE CASH FLOW (4)

In the first half of 2010, free cash flow(4) increased strongly to €119.0 million from - €1.7 million, reflecting the rebound in net cash flow from operating activities, a tight control of working capital, and lower capital expenditure.

NET DEBT (5)

Net debt as of 30 June 2010 decreased by €99.0 million to €571.0 million compared to €670.0 million as of 31 December 2009.

(1) Operating Margin = Revenues less Direct Operating Expenses (excluding Maintenance spare parts) less SG&A expenses

(2) EBIT = Earnings Before Interest and Tax = Operating Margin less Depreciation, amortization and provisions less Impairment of goodwill less Maintenance spare parts less Other operating income and expenses.

(3) Net financial income = excluding impact of put on Gewista’s minorities actualization in 2009 and 2010

(4) Free cash flow = Net cash flow from operating activities less net capital investments (tangible and

intangible assets).

(5) Net debt = Debt net of cash including the non-cash impact of IAS39 (on both debt and derivatives)

and excluding the non-cash impact of IAS 32 (debt on commitments to purchase minority interests)

Next information : Q3 2010 revenues & quarterly information: 3 November 2010 (after market)