The shipbuilder Meyer Turku, which belongs to the Papenburg-based Meyer Werft, continues to improve its financial performance. Turnover and profit increase.
Meyer Turku Group Oy has published its business figures for 2025. The company’s turnover amounted to € 2.14 billion, an increase of 17.2% compared to the previous year. Adjusted EBIT for the 2025 financial year amounted to € 105.1 million. As with the net result, this also represents an increase. The bottom line for the shipyard is a profit of € 105 million. In the previous year, it was “only” € 68.9 million. 2024 had already been a year of improvement after previously being in the red.
“The result achieved last year strengthens us on our path to becoming a stronger, independent company. The successful delivery of the Star of the Seas, our confirmed orders, options and the framework agreement with Royal Caribbean until 2036 form a solid basis for our future planning. In the coming years, we want to achieve a stable financial position and make significant investments in the shipyard to strengthen our competitiveness,” said Casimir Lindholm, CEO of Meyer Turku.
The Group consists of the shipyard Meyer Turku Oy and its operating subsidiaries Piikkio Works Oy, Shipbuilding Completion Oy and Technology Design and Engineering ENG’nD Oy as well as joint real estate companies.
The shipyard currently has three ships under construction at different stages in parallel. One completed cruise ship is to be delivered each year. The third ship in the Icon class, the “Legend of the Seas”, will be completed next summer, according to the Finns(we will go into the project in more detail in the May issue of HANSA). Construction is also currently underway on the fourth ship in the series, the “Hero of the Seas”, which is scheduled for delivery in summer 2027. The fifth ship in the series, which does not yet have a name and is scheduled for delivery in 2028, is also under construction. Meyer Turku also holds options for the sixth and seventh ship in the series. A framework agreement with Royal Caribbean secures the shipyard’s order books until 2036.
After some difficult years, the shipyard believes it is well positioned in the market. According to its own figures, its share of global cruise ship construction is 17%, and the order books extend until 2028. In addition to cruise ships, Meyer Turku is also building two multi-purpose offshore patrol boats for the Finnish Border Guard at partner shipyards. These ships are scheduled for delivery in 2026 and 2027.
