Meyer Turku has reported a loss of 103.8 million euros on revenues of 1.4 billion euros for the year ended Dec. 31, 2023, compared to a loss of 15.6 million euros on revenues of 1.3 billion for 2022.

Tim Meyer, CEO, said in a prepared statement that rising costs due to Covid and the war in Ukraine affected the results for 2023.

“It has been an exceptional time building the most complex cruise ship in the world (Icon of the Seas). However, each prototype ship brings significant product development costs. With the continuation of the series, our cost efficiencies will improve, and will lead to more profitable ships, vessel by vessel. So, we remain optimistic about the future,” Meyer stated.

Meyer Turku delivered the Icon of the Seas to Royal Caribbean in November 2023. At the outfitting pier now is TUI Cruises’ Mein Schiff 7, the yard’s first methanol-ready ship.

Also, under construction at Meyer Turku is the second ship in the Icon class, the Star of the Seas, to be delivered in 2025, and a third sister ship to be delivered in 2026.

In addition to cruise ships, the Finnish yard is also building vessels for the Finnish Border Guard and will deliver to patrol vessels in 2025 and 2026.