Meyer Turku reported a profitable 2016 with a 25 million euro profit.

The yard has been under Meyer family ownership since 2014, prior to which, STX Finland had numerous financial challenges.

The 2016 reported profit of 25 million euro was up from 15 million in 2015.

“The rise of Turku shipyard under Meyer leadership has been swift. The revenue of the company rose 33 percent last year from 594 million euros in 2015 to 792 million euros in 2016,” the company said. “The growth is economically healthy and sustainable with a stable order book reaching until 2024.”

“We are well on our growth path and these reasonable profits give us an opportunity to further invest into the shipyard and also to build up an even stronger shipbuilding team with further recruitment,” Meyer Turku CEO Jan Meyer commented