Financial companies contribute significantly to the increase in Ordnance Survey's sales, hitting a new peak
Ordnance Survey, the UK's national mapping agency, has announced its financial results for the year ending March 2025, revealing a record revenue of £194.6 million – an increase of 4.0% year-on-year.
The growth was primarily driven by the set-up of the National Underground Asset Register (NUAR) and the continued strong growth of OS Maps. However, profit before interest and tax (PBIT) declined from £22.2 million in 2023-24 to £17.6 million in 2024-25, due to higher IT supplier costs, increased data collection expenses, and a restructuring provision of £3.6 million.
In the financial services sector, Ordnance Survey's data is increasingly being used for information on floodplains, building footprints, building materials, number of floors, roof types, and proximity to critical infrastructure. Despite this, the main growth drivers mentioned in the annual report focus on national infrastructure projects like NUAR and consumer mapping services (OS Maps) rather than traditional financial services.
Nick Bolton, Ordnance Survey's CEO, highlighted the organisation's efforts to enhance and connect datasets to unlock deeper insights, supporting housing growth and strengthening environmental resilience. He will discuss these topics further in an upcoming episode of City AM's Boardroom Uncovered interview series in September.
The revenue figure represents an eighth consecutive year of record revenue for Ordnance Survey. Despite a challenging economic backdrop, the organisation has delivered growth, reflecting the increasing demand for trusted location data.
Key revenue growth factors include the National Underground Asset Register set-up, OS Maps growth, and increased data richness from aerial surveys. On the other hand, profit was affected by higher IT supplier costs, restructuring costs, and more expensive data collection methods.
| Metric | 2023-24 (£m) | 2024-25 (£m) | Change | |---------------------------|--------------|--------------|------------------| | Revenue | 186.8 | 194.6 | +4.0% | | Adjusted EBITDA | 40.5 | 41.8 | +3.2% | | EBITDA | 40.5 | 38.0 | -6.2% | | Profit Before Interest & Tax (PBIT) | 22.2 | 17.6 | -20.7% |
In addition to the financial results, Ordnance Survey has reported that its paper maps revenue decreased from £7.9 million to £7.4 million, while revenue from Ordnance Survey maps increased from £9.5 million to £11.6 million.
Looking ahead, Ordnance Survey is in a strong position to deliver even greater geospatial insight and completely fulfill its role as the National Mapping Authority. In the upcoming episode of Boardroom Uncovered, Nick Bolton will discuss the competition from companies like Google and Apple and the unique challenges of leading a government-owned business.
Technology in the field of banking and finance is leveraging Ordnance Survey's data, with the organization providing information on floodplains, building footprints, materials, number of floors, roof types, and infrastructure proximity. Despite this, the growth of Ordnance Survey has been primarily driven by national infrastructure projects like the National Underground Asset Register (NUAR) and consumer mapping services (OS Maps), rather than traditional financial services.
The revenue growth of Ordnance Survey, a national mapping agency, has been influenced by technological advancements, such as the set-up of NUAR, the growth of OS Maps, and the increased data richness from aerial surveys, indicating a growing demand for trusted location data in various industries, including business.
