Meyer Turku Group’s turnover increased by 10.6% in 2023, with profitability expected to improve further with new ships under construction.
Show Fullscreen
Source: Meyer Turku
Meyer Turku’s strong turnover reveals that the cruise industry has recovered to the pre-corona level and even exceeded it
The company’s turnover was €1.43 billion – meaning that both the yard’s turnover and the number of personnel there have been growing for three consecutive years.
“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,” said Tim Meyer, CEO, Meyer Turku.
”It has been exceptional times building the most complex cruise ship in the world. Icon of the Seas has made huge success on the market. 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.”
Strong progress
Like most yards, rising financing costs added to the covid pandemic and the war in Ukraine heavily affected financial results in 2023.
But still, Meyer Turku has made remarkable contributions required for the green transition.
In November 2023, Meyer Turku delivered Icon of the Seas to Royal Caribbean International.
At the outfitting pier currently is the TUI Cruises’ vessel Mein Schiff 7, Meyer Turku’s first ever methanol-ready ship.
Also under construction at the shipyard is 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.
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.
