Martin Marietta’s aggregates volumes fall by 23%

Martin Marietta’s aggregates volumes fall by 23%
Published: 10 February 2010

Martin Marietta Materials achieved a total turnover of US$1,702.6m in 2009, a reduction of 19.6%.

The EBITDA declined by 26.8% to US$364.1m and, after an interest charge 1.1% lower at US$73.5m, the pre-tax profit showed a 53.3% drop to US$115.3m. 

Capital expenditure last year amounted to US$139.2m, a reduction of some 46% on the prior year, but is expected to increase to about US$160m in 2010. 

Helped by the issue of additional equity raising US$293.4m during the year, net debt declined by 25.1% to US$986.0m to give a gearing ratio of 70.1%, down from 128.9% a year earlier.