Meyer Werft reports reduced annual loss to 384 million euros

Meyer Werft has reported its preliminary financial results for 2025, showing a reduction in annual losses despite continued negative earnings. The company's loss decreased to approximately 384 million euros, down from over 500 million euros in 2024. This improvement was driven by a significant increase in revenue, which rose from roughly 1.4 billion euros to 2.8 billion euros.

The company attributed the remaining deficit primarily to provisions for expected losses from older, unprofitable contracts. Key revenue drivers included the delivery of the cruise ships Asuka III and Disney Destiny in Papenburg, as well as river cruise ship construction at Neptun Werft in Rostock-Warnemünde for partners like Viking Cruises. Additionally, the completion of the Disney Adventure in Wismar contributed to the results.

Looking ahead, management expects further improvements in the current fiscal year, aiming for a balanced EBITDA despite the absence of new ocean cruise ship deliveries. The company is also expanding into the offshore converter platform market following a billion-euro order for Neptun Smulders Offshore Renewables. The order book remains strong through 2029, with potential future builds for MSC Cruises.