Finnish shipbuilder Meyer Turku Group said it delivered “good financial result” that fueled the ramp up of the shipyard’s production.
The company’s profit for the financial year 2018 was at EUR 29 million, slightly down from EUR 32,5 million reported a year earlier.
However, net sales for the same period surged to EUR 969.7 million from EUR 808.2 million seen in 2017. According to Meyer Turku, the company is fueling the current production ramp up with its profits.
“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, CEO of Meyer Turku, said.
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. Last year 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 ton cruise ships.
Meyer Turku’s orderbook now consists of seven large cruise ships.