Methanex Reports Higher Production and Adjusted EBITDA in Fourth Quarter 2024

Financial Performance - For Q4 2024, Methanex reported net income of $45 million ($0.67 per share), an increase from $31 million ($0.35 per share) in Q3 2024 [3][8] - Adjusted EBITDA for Q4 2024 was $224 million, compared to$216 million in Q3 2024 [3][8] - For the full year 2024, net income was $164 million ($2.39 per share), down from $174 million ($2.57 per share) in 2023 [5][8] Production and Sales - Q4 2024 production reached 1,868,000 tonnes, up from 1,347,000 tonnes in Q3 2024, driven by higher output from Chile, New Zealand, Geismar, and Egypt [8][20] - Average realized price in Q4 2024 was $370 per tonne, an increase from$356 per tonne in Q3 2024 [4][8] - Total sales volume for Q4 2024 was 2,564,000 tonnes, slightly down from 2,623,000 tonnes in Q3 2024 [8][10] Operational Highlights - The company achieved its best safety performance in history and commenced commercial production at the G3 facility in July 2024 [6][20] - A quarterly dividend of $0.185 per share was paid in Q4 2024, totaling$12.5 million [20] - The company ended 2024 with a cash balance of $892 million and repaid a$300 million bond using operational cash flows [8][20] Acquisition and Financing - Methanex completed financing for the acquisition of OCI Global's methanol business, including a $650 million Term Loan A and a$600 million bond [8][20] - The company aims to integrate the OCI acquisition and generate strong cash flows to reduce leverage in 2025 [6][20] Future Outlook - Expected production guidance for 2025 is approximately 7.5 million tonnes, excluding any production from OCI assets post-acquisition [27] - Anticipated higher Adjusted EBITDA in Q1 2025 compared to Q4 2024, with average realized prices projected between $395 to$405 per tonne [28]