Meyer Turku Group Increases Turnover

Meyer Turku Group's results for 2023 indicate the company's turnover was 1.43 billion euros, which means a growth of 10.6% compared to the previous year.

Both the turnover and the number of personnel have been growing for three consecutive years. The loss for the financial year 2023 was 103.8 MEUR (i.e. -7.2% of the turnover).

The fiscal year 2023 of the shipyard company was affected by the ship deals that were closed before the covid pandemic, the new prototype ship project and the loss provision for the ship to be delivered in 2024.

Beyond that, Meyer Turku says it has made remarkable contributions to the green transition.

CEO Tim Meyer said: “The cruise industry has recovered to the pre-corona level, even beyond it, and there is demand for our high-quality products. We constantly make large financial investments in sustainable development, which is a key competitive factor for us and a natural part of the high-quality shipbuilding that we are known for. Meanwhile, the risen general and financing costs added to the covid pandemic and the war in Ukraine have heavily affected our financial results in 2023.”

In November 2023, Meyer Turku delivered to Royal Caribbean International the world's most advanced ship Icon of the Seas. At the outfitting pier now is the TUI Cruises’ vessel Mein Schiff 7, Meyer Turku’s first methanol-ready ship.

Under construction at the shipyard are also the second ship in the Icon series, Star of the Seas, to be delivered in 2025, and Icon 3 that will be completed in 2026.

“It has been exceptional times building the most complex cruise ship in the world,” says Meyer. “Icon of the Seas has made huge success on the market. However, each prototype ship brings significant e.g. product development costs. With the continuation of the Icon series, our cost efficiency improves, leading to more profitable ships, vessel by vessel. So, we remain optimistic about the future."

In addition to cruise ships, Meyer Turku will be delivering two multi-purpose offshore patrol vessels to the Finnish Border Guard in 2025 and 2026.