METHANEX CORP
For the period ended Dec 31, 2025. Filed Mar 5, 2026.
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Dec 31, 2025 · Filed Mar 5, 2026
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Adjusted EBITDA
We review the results of operations by analyzing changes in the components of Adjusted EBITDA. Changes in these components - average realized price, sales volume and total cash costs - similarly impact net income attributable to Methanex shareholders. The changes in Adjusted EBITDA resulted from changes in the following:
| ($ millions) | Q4 2025compared withQ3 2025 | Q4 2025compared withQ4 2024 | 2025compared with2024 |
|---|---|---|---|
| Average realized price | $(36) | $(98) | $47 |
| Sales volume | 13 | 20 | (53) |
| Geismar 3 delay costs | — | — | 41 |
| New Zealand gas sale proceeds, net of gas and fixed costs during idle period | (11) | (28) | (59) |
| Ammonia contribution | 11 | 22 | 33 |
| Total cash costs | $18 | $46 | $35 |
| Increase (decrease) in Adjusted EBITDA | $(5) | $(38) | $44 |
METHANEX CORPORATION 2025 FOURTH QUARTER NEWS RELEASE PAGE 5
Average realized price
| Three Months Ended · Years Ended | |||||
|---|---|---|---|---|---|
| ($ per tonne) | Dec 312025 | Sep 302025 | Dec 312024 | Dec 312025 | Dec 312024 |
| Methanex average non-discounted posted price | 543 | 578 | 547 | 588 | 508 |
| Methanex average realized price | 331 | 345 | 370 | 361 | 355 |
Methanex’s average realized price for the fourth quarter of 2025 was $331 per tonne compared to $345 per tonne in the third quarter of 2025 and $370 per tonne in the fourth quarter of 2024, resulting in a decrease of $36 million and $98 million in Adjusted EBITDA, respectively. For the twelve months ended December 31, 2025, our average realized price was $361 per tonne compared to $355 per tonne for the same period in 2024, increasing Adjusted EBITDA by $47 million.
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