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Methanex posts sharp growth in revenues and earnings

28.02.2018 − 

Rising sales and prices during the course of the year paved the way for a significant improvement in revenues at Canadian Methanex. Earnings improved much more. The company had sold 13.1% more with a total of 2.852m t of methanol during the fourth quarter. Some 1.930m t had been made in-house, 633,000 t was purchased externally and 289,000 t took the form of commission business. The posted price increased by 29.2% to an average of US$403 per t, while the sales price jumped 25.9% to US$350 per t. This translated into a 47.2% growth in revenues to US$861m. Adjusted EBITDA soared 82.7% to US$254m, while adjusted net income more than tripled to US$143m.

Methanex’s full-year methanol sales climbed 12.6% to 10.669m t. Sales of methanol made in-house rose to 7.229m t. The firm sold some 2.289m t of methanol made by other companies and 1.151m t from commission business. Full-year revenues increased by more than half to US$3.061bn. Adjusted EBITDA almost tripled to US$838m. Last year’s adjusted net loss was turned into a profit of US$409m.

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