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MEST’s after-tax income in 2023 is ISK 33.9 million
Last year, MEST grew steadily. Last year was a record year for the century-old company. MEST Association had a net profit of 556 million. ISK’s turnover with the company was 33.9 million. ISK after tax This is about progress in all forts. MEST organization has a total of 543 employees, including 70 apprentices.
“We are very satisfied with the results for 2023”, says MEST Manager Mouritz Mohr. “MEST is a Faroese company with some trials and some big projects and some small ones. The companies that MEST works with have become bigger and MEST also has to do all the maintenance work and build new buildings, so there is a strong company. Especially in connection with the large installation in front of the new pier in Skara”
Last year, MEST made a lot of noise. It is a very strong company with a share capital of 145 million Icelandic kronor and a solidity of 53%.
The company is pleased to see year-on-year growth in activity from land-based work, foreign clients and especially offshore work.
Two Hiddenfjord paperbacks
Last year, MEST sent a double-sided letter to Hiddenfjord Foods and another will be written next week, with the costs and timelines agreed. All work is being done in the Faroe Islands. In the last year, MEST has gained a lot of experience in building double-decker buses and is now also offering its services to foreign customers.
New Refrigerated Cart
In February an agreement was reached with a company in Varðan to build a new freezer trawler. The vessel will be at anchor in the summer of 2026. It is a finished ship, ready for future needs. It is a great opportunity for us in the Faroe Islands to preserve shipbuilding as a craft, and we are happy to be able to compete with our neighbours.
Carrying capacity
MEST has prioritized telescopes over structural integrity to ensure that MEST increases its operations in a structurally sound manner. MEST aims to make load-bearing capacity a natural part of the working process, thereby limiting the environmental impact of activities as much as possible. MEST’s qualification takes into account social, environmental and physical interactions. This approach not only benefits the environment and society, but also contributes to the sustainability and long-term success of MEST.
New Turdok
MEST plans to start construction of the new pier this spring. The new Turdok will be located just north of the existing Turdok at Skala. Even today, the new pier will be able to accommodate larger vessels.
Activity in Scala is generally good, both for current and future expansion activities.
The MEST organization covers the shipyards in Havn, á Skála, the production facility in Runavík and PAM-Offshore Service, which provides services to Norwegian offshore workers.
“Today, we invest in our environment without forgetting to equip our employees. Competition is fierce and we are constantly working to strengthen our service base. We are pleased that our efforts are bearing fruit and that more and more customers are choosing MEST as a supplier”, says MEST Director Mouritz Mohr.
kind regards,
P/F Meister
(Photo/Source: Mouritz Mohr, MEST Manager)
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