The French directory company PagesJaunes Groupe reported 2011 revenues of 1.1 billion euros today, with 575 million euros from digital sources. That’s 52.2 percent of total revenues. The company, which has a dominant position in directories in France, posted a 2.1 percent revenue decline in 2011, which is a solid performance by directory company standards.

By reaching a 50 percent level, PagesJaunes only has to grow digital revenues at the same pace as its print revenues decline to achieve top-line equilibrium (this doesn’t address margins). In the fourth quarter the publisher fell just shy of that goal, with digital growth pacing at 8.6 percent, while print declined 9.3 percent in the quarter.

PagesJaunes is pushing hard into a variety of digital and mobile products. The company is active in digital presence management, verticals (real estate, home services), mobile (13 million app downloads) and online display, including a deal with Facebook to participate in its API program, as well as a local ad exchange via its Horyzon Media acquisition.

For 2012, PagesJaunes expects to see its revenue declines stabilize further, and foresees 60 percent digital revenues by year-end.