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'More Positive Path' at Meyer Turku

Ships under construction at Meyer Turku

Meyer Turku has announced the group's financial figures for 2020. The yard group noted two difficult years, but said it now slowly moving towards a more positive path.

“Last year has been in several aspects an extraordinary difficult year, mainly impacted by corona resulting in high extra costs due to the restrictions and corona measures. Adapting our orderbook and consequently our capacity has affected our operation in 2020 severely. We do, however see now promising signs of recovery both in the cruise ship market and in our Meyer Turku Group financial figures. We are already working on the topics beyond the crisis such as the development of sustainable ship designs," said CEO of Meyer Turku, Tim Meyer.

Last year saw the delivery of the Carnival Mardi Gras in December.

Earlier in the summer, Meyer Turku managed to work with its customers on the stretching of the orderbook to 2026.

There have been no cancellations to orders, the yard said.

 Meyer Turku also went through unavoidable employee co-operation negotiations and adjustments to investments. Still the result of Meyer Turku Oy in 2020 is negative 49,2 M€.

“I would like to thank my whole team as we were able to react very fast on the changed business situation and mitigate the effects of corona pandemic on our operation with fast and decisive actions. This year (2021) is a year for preparing for the new future we have in front of us. The full impact of our measures will take some time until they will display in our financial numbers, however," Meyer said.

Key Figures for Meyer Turku Group 2020 (including subsidiaries):

                                                                                       

2020

2019

2018

Net Sales, M€                                                           

1035,9

1141,8

967

Profit/loss for the financial year, M€                   

7,8

-109,7

29

Profit/loss for the financial year %                     

0,8

-9,6

3,0

Investments M€                                                       

30,8

65,2

71,3

Personnel, average                                                   

2359

2386

2205

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