25 July 2018
VIEW METHANEX'S FULL PRESENTATION
DETAILS
For the second quarter of 2018,
Methanex (TSX:MX) (NASDAQ:MEOH) reported
net income attributable to Methanex shareholders of $111 million
($1.36 per common share on a diluted basis)
compared to net income of $169 million
($2.00 per common share on a diluted basis)
in the first quarter of 2018.
Adjusted EBITDA for the second quarter of 2018 was $275 million
and Adjusted net income was $143 million
($1.75 per common share).
This compares with Adjusted EBITDA of $306 million
and Adjusted net income of $171 million
($2.03 per common share) for the first quarter of 2018.
President and CEO of Methanex
"Methanol prices have remained strong
through the second quarter
as a result of healthy methanol demand
from energy-related and traditional chemical applications
combined with various industry production outages globally
resulting in tight market conditions.
Our average realized price
increased slightly to $405 per tonne
in the second quarter compared to $402 per tonne
in the first quarter of 2018.
Our Adjusted EBITDA reflects
the impact of lower sales of produced product
as a result of our reduced production volume
in New Zealand in the quarter."
"We returned $241 million to shareholders
through our regular dividend
and share repurchases during the second quarter.
To June 30, 2018 we have repurchased
3,850,000 common shares, of the 6,590,095 approved,
for approximately $253 million
since the start of our normal course issuer bid
on March 13, 2018."
"In addition, the restart of our Chile IV plant
is on track to be complete by the end of Q3 2018.
The investments we have made over the past few years
to increase our production capability
have substantially improved our earnings power
and ability to generate significant free cash flow
at a wide range of methanol prices.
We have low capital and financing requirements
in the near term and have $320 million of cash on hand
at the end of the second quarter,
a committed revolving credit facility
and a robust balance sheet.
Our balanced approach to capital allocation
remains unchanged.
We believe we are well positioned
* to meet our financial commitments,
* pursue our growth opportunities
* and deliver on our commitment
to return excess cash to shareholders
through dividends and share repurchases,".
For further information, contact:
Kim Campbell
Manager, Investor Relations
Methanex Corporation
604-661-2600
WWW.CHEMWINFO.COM BY KHUN PHICHAI
