Meyer Werft narrows loss as revenue increases
The shipbuilding group reported improved annual results and said restructuring financing is covered through 2028.
Meyer Werft’s after-tax loss narrowed to three hundred eighty-three point eight million euros from five hundred sixty-nine point two million euros in 2024. The group cautioned that the figures have limited comparability because of extensive corporate restructuring during the prior year.
Revenue rose to two point eight three billion euros from one point three seven billion euros. The increase was mainly driven by deliveries of Asuka III, Disney Destiny and two river vessels, alongside the conversion of Disney Adventure. EBITDA improved from a loss of five hundred twenty-seven point six million euros to a loss of two hundred fifty-one point eight million euros.
Chief Restructuring Officer Ralf Schmitz said more than 60 operational restructuring projects are expected to deliver a positive annual earnings impact in the clear three-digit million-euro range over the medium term.
An independent restructuring expert confirmed adherence to the restructuring plan. Meyer Werft said secured equity and debt capital cover financing requirements through 2028.
Despite having no ocean cruise ship deliveries scheduled for 2026, management expects consolidated EBITDA to improve significantly toward break-even, supported by cost improvements and losses already recognized in previous years.