Meyer Werft will take out an additional loan from a private banking consortium. Currently, the company is well on its way to meeting some final conditions for implementation. This loan will be partly secured by a guarantee from the state of Lower Saxony (with a backstop from the federal government). The company is well on its way to meeting some fi-nal conditions for implementation by the beginning of May. Meyer Werft, which currently still has six cruise ships and several special purpose ships on its order book, will repay this loan in full by 2029.
For the first time in decades, MEYER WERFT is now using this instrument to supplement its previously purely private-sector financing. This kind of support for this type of technically demanding and complex large-scale project is standard practice in other cruise shipyards. It is precisely this state guarantee that has now been decided on by the state of Lower Saxony government.
Due to further measures, such as the implementation of various cost efficiency measures, the annual result in 2022 is expected to be almost balanced. Combined with the new cornerstones in financing, a stable foundation has been laid for the coming years.