Overview
- CEO Bernd Eikens says the restructuring is currently between 30 and 40 percent complete.
- The yard plans to eliminate its paper-based 'yellow-slip' system for supplier complaints and standardize data by deploying SAP across the company by mid‑2027.
- Chief restructuring officer Ralf Schmitz cites loss-making contracts, including offshore platform parts for Dragados and naval replenishment tankers built in Rostock for NVL Group.
- Designs that did not match existing machinery forced manual welding in temporary tents and a pre-delivery rush that kept staff aboard during transfer voyages, driving up costs.
- Germany and Lower Saxony each own 40 percent with €400 million in equity and a €2.6 billion credit line, and a recent MSC Cruises order for four ships through 2033 with options to 2035 worth up to €10 billion secures future workload but does not resolve current inefficiencies.