Methanex Corp Files 6-K for Q4 2024

TL;DR

Methanex Corp (MX) filed its Q4 2024 6-K, confirming its reporting status and Canadian base.

AI Summary

Methanex Corporation filed a Form 6-K on January 30, 2025, reporting for the period ending December 31, 2024. The filing indicates the company is a foreign private issuer and is furnishing information as required by the SEC. Methanex Corporation is based in Vancouver, BC, Canada, and operates in the industrial organic chemicals sector.

Why It Matters

This filing provides an update on Methanex Corporation's reporting status and confirms its operational base, which is relevant for investors tracking the company's compliance and financial disclosures.

Risk Assessment

Risk Level: low — This is a routine filing providing updated information and does not contain significant new financial or operational developments.

Key Players & Entities

• Methanex Corporation (company) — Registrant
• 0001628280-25-003055 (accession_number) — Filing identifier
• 20250130 (date) — Filing date
• 20241231 (date) — Reporting period end date
• Vancouver, BC, Canada (location) — Company headquarters

FAQ

Key Financial Figures

• $45 million — ttributable to Methanex shareholders of $45 million and Adjusted EBITDA of $224 million in
• $224 million — s of $45 million and Adjusted EBITDA of $224 million in the fourth quarter. Our average real
• $370 — ealized price in the fourth quarter was $370 per tonne compared to $356 per tonne in
• $356 — quarter was $370 per tonne compared to $356 per tonne in the third quarter of 2024.
• $164 million — ttributable to Methanex shareholders of $164 million and Adjusted EBITDA of $764 million. F
• $764 million — of $164 million and Adjusted EBITDA of $764 million. Fourth quarter production of 1,868 km
• $50 million — Zealand, Geismar, and Egypt. In 2024, $50 million was returned to shareholders through re
• $300 million — lders through regular dividends and the $300 million bond due in December was repaid with ca
• $892 million — from operations. We ended the year with $892 million in cash. During the fourth quarter we
• $650 million — undrawn credit facility, syndicating a $650 million Term Loan A and issuing a $600 million
• $600 million — $650 million Term Loan A and issuing a $600 million bond. We have been advised by our lega
• $0.67 — o Methanex shareholders of $45 million ($0.67 net income per common share on a dilute
• $31 million — iluted basis) compared to net income of $31 million ($0.35 net income per common share on a
• $0.35 — compared to net income of $31 million ($0.35 net income per common share on a dilute
• $84 million — 224 million and Adjusted net income was $84 million ($1.24 Adjusted net income per common s

Filing Documents

• mdafsnotes_q42024.htm (6-K) — 1522KB
• image2.jpg (GRAPHIC) — 43KB
• 0001628280-25-003055.txt ( ) — 1577KB

Management's Discussion and Analysis for the

Management's Discussion and Analysis for the Three Months and Year Ended December 31, 2024 At January 28, 2025 the Company had 67,395,212 common shares issued and outstanding and stock options exercisable for 1,421,490 additional common shares. FOURTH QUARTER MANAGEMENT'S DISCUSSION AND ANALYSIS (MDA) Except where otherwise noted, all currency amounts are stated in United States dollars. This Fourth Quarter 2024 Management's Discussion and Analysis dated January 29, 2025 for Methanex Corporation (the Company) should be read in conjunction with the Company's unaudited condensed consolidated interim financial statements for the period ended December 31, 2024 as well as the 2023 Annual Consolidated Financial Statements and MDA included in the Methanex 2023 Annual Report. Unless otherwise indicated, the financial information presented in this interim report is prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The Methanex 2023 Annual Report and additional information relating to Methanex is available on our website at www.methanex.com, the Canadian Securities Administrators' SEDAR+ website at www.sedarplus.ca and on the United States Securities and Exchange Commission's EDGAR website at www.sec.gov . METHANEX CORPORATION 2024 FOURTH QUARTER

MANAGEMENT'S DISCUSSION AND ANALYSIS PAGE 1

MANAGEMENT'S DISCUSSION AND ANALYSIS PAGE 1 FINANCIAL AND OPERATIONAL DATA Three Months Ended Years Ended ($ millions except per share amounts and where noted) Dec 31 2024 Sep 30 2024 Dec 31 2023 Dec 31 2024 Dec 31 2023 Production (thousands of tonnes) (attributable to Methanex shareholders) 1 1,868 1,347 1,779 6,358 6,642 Sales volume (thousands of tonnes) Methanex-produced methanol 1,455 1,378 1,712 6,094 6,455 Purchased methanol 911 987 890 3,471 3,527 Commission sales 198 258 260 904 1,187 Total sales volume 2,564 2,623 2,862 10,469 11,169 Methanex average non-discounted posted price ($ per tonne) 2 547 519 421 508 434 Average realized price ($ per tonne) 3 370 356 322 355 333 Revenue 949 935 922 3,720 3,723 Net income (attributable to Methanex shareholders) 45 31 33 164 174 Adjusted net income 4 84 82 35 252 153 Adjusted EBITDA 4 224 216 148 764 622 Cash flows from operating activities 281 210 195 737 660 Basic net income per common share 0.67 0.46 0.50 2.43 2.57 Diluted net income per common share 0.67 0.35 0.50 2.39 2.57 Adjusted net income per common share 4 1.24 1.21 0.52 3.72 2.25 Common share information (millions of shares) Weighted average number of common shares 67 67 67 67 68 Diluted weighted average number of common shares 67 68 68 68 68 Number of common shares outstanding, end of period 67 67 67 67 67 1 Methanex-produced methanol represents our equity share of volume produced at our facilities and excludes volume marketed on a commission basis related to the 36.9% of the Atlas facility and 50% of the Egypt facility that we do not own. 2 Methanex average non-discounted posted price represents the average of our non-discounted posted prices in North America, Europe, China and Asia Pacific weighted by sales volume. Current and historical pricing information is available at www.methanex.com . 3 The Company has used Average realized price (ARP) throughout this document. ARP is calculated as revenue divided by the

MANAGEMENT'S DISCUSSION AND ANALYSIS PAGE 2

MANAGEMENT'S DISCUSSION AND ANALYSIS PAGE 2 FINANCIAL AND OPERATIONAL HIGHLIGHTS A reconciliation from net income attributable to Methanex shareholders to Adjusted net income and the calculation of Adjusted net income per common share is as follows Three Months Ended Years Ended ($ millions except number of shares and per share amounts) Dec 31 2024 Sep 30 2024 Dec 31 2023 Dec 31 2024 Dec 31 2023 Net income attributable to Methanex shareholders $ 45 $ 31 $ 33 $ 164 $ 174 Mark-to-market impact of share-based compensation, net of tax 19 (15) 3 2 13 Impact of Egypt and New Zealand gas contract revaluation, net of tax 20 (24) (1) (4) (3) Impact on earnings of associate of gas contract settlement, net of tax — — — — (31) Asset impairment charge, net of tax — 90 — 90 — Adjusted net income 1 $ 84 $ 82 $ 35 $ 252 $ 153 Diluted weighted average shares outstanding (millions) 67 68 68 68 68 Adjusted net income per common share 1 $ 1.24 $ 1.21 $ 0.52 $ 3.72 $ 2.25 1 The Company has used the terms Adjusted EBITDA, Adjusted net income and Adjusted net income per common share throughout this document. These items are non-GAAP measures and ratios that do not have any standardized meaning prescribed by GAAP and therefore are unlikely to be comparable to similar measures presented by other companies. Refer to Additional Information - Non-GAAP Measures on page 14 of the MDA for reconciliations to the most comparable GAAP measures. We recorded net income attributable to Methanex shareholders of $45 million in the fourth quarter of 2024 compared to net income of $31 million in the third quarter of 2024. Net income in the fourth quarter of 2024 was higher compared to the prior quarter primarily due to a higher average realized price and the impact of the non-recurring asset impairment expense recorded in the third quarter of 2024. This was offset by lower New Zealand gas sale net proceeds, the negative impact of the mark-to-market adjustments of share-based compensati

View Full Filing

View this 6-K filing on SEC EDGAR