Meyer Turku has emerged as a leader in cruise ship construction, recently revealing its 2025 results, which highlight a significant financial recovery and strategic repositioning. Turnover rose to €2.14 billion, a 17% increase from the previous year, with adjusted EBIT reaching €105.1 million. This recovery is underscored by the delivery of the Star of the Seas, the second vessel in Royal Caribbean’s complex Icon class, showcasing improved production efficiency and quality.
The yard’s future looks promising, bolstered by a long-term agreement with Royal Caribbean that extends construction rights through 2036. This includes confirmed projects for Icon 5, with options for Icon 6 and 7, allowing for a continuous production model. Besides cruise ships, Meyer Turku is diversifying its portfolio by constructing offshore patrol vessels for the Finnish Border Guard, aligning with growing geopolitical concerns in Europe.
Strategically, Meyer Turku is transitioning to a more independent model, introducing a financing structure that shifts risk to customers. This reduces the yard’s financial exposure and enhances capital efficiency. Despite strong demand for cruise ships, external risks like geopolitical tensions and competition from Chinese shipbuilders present challenges. To address these, Meyer Turku is investing €150 million over four years to modernize its facilities, focusing on operational efficiency and productivity.
