马丁-玛丽埃塔材料 2025年度报告

Martin Marietta Again Delivered Record Financial Performance andFurther Extended its Leadership Position as North America’s Premier,Aggregates-Led Building Materials Company Successfully Positioned Business for Next Phase of Growth with SOAR 2025 Objectives Achieved;Enters 2026 With Strong Momentum, Poised to Advance SOAR 2030 Initiatives Dear Fellow Shareholders, For Martin Marietta, 2025 marked the successful completion of ourStrategic Operating Analysis and Review (SOAR) 2025 plan, a period definedby deliberate action, disciplined capital allocation and an unwavering focuson long-term value creation. Our accomplishments throughout SOAR 2025have fundamentally reshaped our portfolio and positioned Martin Mariettaas a stronger, more durable and resilient enterprise that serves as thefoundation as we begin SOAR 2030. The culmination of SOAR 2025 was clearly reflected in our 2025 results,highlighted by record performance in our aggregates business, underscoringthe durability of our core product line, the resilience of the markets inwhich we operate, and the effectiveness of our commercial execution. OurSpecialties business also delivered record results, reinforcing the strategic Chair, President and Chief Executive Officer value this platform provides within our enterprise. Perhaps most importantly, safety remained a defining hallmark in 2025, onceagain exceeding world-class standards. Our unwavering commitment to continuous safety improvement underpins our abilityto execute our SOAR strategy and deliver long-termfinancial success. The following table highlights selected 2025 accomplishments. 2025 Safety Highlights Achieved world-class total injury incident rate (TIIR) for the 5th consecutive yearAchieved a world-class losttime injury incident rate (LTIR) for the 9th consecutive year99.8% of our employees experienced zero lost-time incidents 2025 Financial Highlights Grew aggregates gross profit by 16% to arecord~$1.7 billion, and by 12% to arecord$8.45 on a per ton basisExpanded Adjusted EBITDA* from continuing operations margin by 229 basis pointsGeneratedrecordcashflow from operations of ~$1.8 billionAdvanced $6.3 billion of portfolio-enhancing strategic transactionsDelivered total shareholder return of 21% as compared with the S&P 500’s 18% LETTER TO SHAREHOLDERS LEADING SAFETY AND FINANCIAL PERFORMANCE World-Class Safety Achieved At Martin Marietta, we have a steadfast commitment to safety grounded in our Guardian Angel safety culture. Our effortsin 2025 reflect our dedication to continuous improvements across safety, operations and commercial execution. We againdelivered world-class safety performance, as measured by both total and lost-time incident rates, achieving another year ofexceptional, industry-leading safety results. For thefifth consecutive year, we achieved a world-class TIIR with a companywiderate of 0.69 and, for the ninth consecutive year, a world-class LTIR with a companywide rate of 0.17. Our journey toward ZERO safety incidents across our Company remains the goal. We have proven that it is achievable as 99.8%of employees experienced zero lost-time incidents, while 99.3% of employees recorded ZERO reportable incidents, reflectingthe strength of our prevention-focused approach. In 2025, we built on our legacy and reinforced our safety culture with the launch of the Guardian Angel Fundamentals program,including our enterprise-wide standardized Stop, Look, Assess and Manage (SLAM) form, targeted safety engagements andupdated training programs. We also strengthened our focus on life- and limb-critical exposures and enhanced best-in-classcapabilities, including revised safety guidelines and a new safety dashboard designed to improve visibility and support decision-making. These efforts have been widely recognized. In fact, our teams earned both national and regional recognition, includingthe National Mining Association’s Sentinels of Safety Award and Certificates of Achievement in Safety at more than 210 locationsfrom the Mine Safety and Health Administration (MSHA). Looking ahead, we have designed a roadmap for continuous safety improvement to drive meaningful and lasting progress forMartin Marietta. Safety excellence is not only central to our commitment to the health and well-being of our employees andcommunities, it is a proven driver of strong performance, profitability and value creation. LETTER TO SHAREHOLDERS Record Setting Financial Results and Significant Portfolio Actions Our 2025financial results reflect a record year of strong, broad-based performance, driven by our disciplined commercialstrategy and acquisition contributions. The Company reported $6.2 billion in revenues from continuing operations and AdjustedEBITDA* from continuing operations of $2.1 billion, representing year-over-year increases of 9% and 17%, respectively, alongwith Adjusted EBITDA* from continuing operations margin improvement of 229 basis points. Importantly, we delivered these