METHANEX CP
			Symbol			MEOH

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Methanex Reports Third Quarter Results-Methanol Demand Continues to Improve

2009-10-27 21:28 ET - News Release

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 10/27/09

Methanex Corporation (TSX: MX)(NASDAQ: MEOH)(SANTIAGO: Methanex) -

For the third quarter of 2009, Methanex reported Adjusted EBITDA(1) of $31.0 million and a net loss of $0.8 million ($0.01 per share on a diluted basis). This compares with Adjusted EBITDA of $24.8 million and a net loss of $5.7 million ($0.06 per share on a diluted basis) for the second quarter of 2009.

Bruce Aitken, President and CEO of Methanex, commented, "It is pleasing to see the beginning of recovery in our numbers for the quarter. Sales volumes are up 13% from Q2 2009 and realized methanol prices rose about 16%. These results translated into improved EBITDA, cash generation and earnings. However, the quarter was negatively impacted by a number of mostly one-off costs such as stock-based compensation and unplanned outages at our plants in Chile and Trinidad."

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