Meyer Turku Group’s good financial result fuels the ramp up of shipyard’s production

Meyer Turku Group key financial figures indicate a good steady growth for the shipyard company. Turnover grew from 808,2 million euros to 969,7 million euros with profit for the financial year of 2018 being 3,0 percent. The company is fuelling the current production ramp up with its profits. CEO of Meyer Turku, Jan Meyer, is pleased with the financial results.

“We are on a good path to meet the goals we have set. We need to, however, double our production in the next four years to meet the demands in our order book. Investments to the facilities and our personnel with first-in-series ships have impacted our profitability in 2018 and will continue to do so during the next couple of years,” Jan Meyer states.

In 2018 Meyer Turku delivered one ship, New MEIN SCHIFF 1, to German TUI Cruises. New MEIN SCHIFF 2 was handed over to the same owner in January 2019. 2018 also saw the start of hull production for Costa Cruises SMERALDA and the start of production for Carnival Cruise Lines MARDI GRAS, both 180 000 gross tonnage cruise ships. The order book of Meyer Turku now has seven large cruise ships.

Ship

Ship type

Gross tonnage

Delivery

COSTA SMERALDA	Cruise ship	182 700	Autumn 2019
Carnival MARDI GRAS	Cruise ship	180 000	2020
Costa 2	Cruise ship	182 700	2021
Icon 1	Cruise ship	appr. 200 000	2022
Carnival 2	Cruise ship	180 000	2022
MEIN SCHIFF 7	Cruise ship	111 500	2023
Icon 2	Cruise ship	appr. 200 000	2024

Key Figures for Meyer Turku Group (including subsidiaries):

	2018	2017	2016
Net Sales, M€	969,7	808,2	792,3
Profit for the financial year, M€	29,0	32,5	25,4
Profit for the financial year, %	3,0	4,0	3,2
Investments, M€	71,3	80,8	21,8
Personnel, average	2205	2009	1771