PRESS RELEASE: Meyer Turku reaches a satisfactory result in the midst of a protracted pandemic

PRESS RELEASE 2.5.2022

The Meyer Turku Group financial figures for 2021 were published today. The company's turnover was EUR 1.08 billion. It is somewhat higher than in the previous year, but the result for the financial year was a loss of EUR 17.0 million.

CEO Tim Meyer comments the result: “Exceptional times lasted longer than expected. The global effects of the Covid-19 pandemic, such as labor and material mobility, affected our operations
as well. However, despite significant challenges, we were able to keep our production and processes running. In the spring of 2021, we also launched a major transformation program in Turku and Papenburg to increase our cost efficiency and to ensure a sustainable profitability level.

Our customers see growth in the market after the pandemic, and our shipyard's order books extend to 2026. Today, the surrounding society, customers and ship passengers require action to enhance responsibility. Our focus will increasingly shift to sustainable shipbuilding.”

In December 2021, Meyer Turku handed over Costa Toscana to Costa Crociere. At the end of this year, another Carnival ship, Carnival Celebration, will be completed, followed by the Royal Caribbean International’s Icon of The Seas in 2023 and the TUI Cruises’ Mein Schiff 7 in 2024.

The Meyer Turku Group key financial figures for 2021 (including subsidiaries):

2021

2020

2019

Turnover, M€

1079,2

1035,9

1141,8

Profit / loss for the financial year, M€

-17,0

7,8

-109,7

Profit / loss for the financial year, %

-1,6

0,8

-9,6

Investments, M€

12,4

30,8

65,2

Personnel, average

2086

2359

2386

For additional information:

Anna Hakala
Head of Communications
anna.hakala@meyerturku.fi
Mobile: +358 40 593 7335

TheMeyer TurkuOy shipyard is specialized in the construction of very demanding, innovative, andenvironmentally efficient cruise ships, car ferries, and special vessels. Our share of the global cruiseconstruction market is approximately 15%,and our shipyard's order books extend to 2026.Ourlargest customers are Royal Caribbean International, Carnival Cruise Lines, TUI Cruises, CostaCruises, andTallink-Silja.

Together with the German shipyards, MeyerWerftinPapenburg, andNeptunWerfin Rostock,Meyer Turku forms the Meyer Group, one of the world’s leading cruise ship builders.