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Offshore wind turbines at Rampion wind farm

About us

Annual report 2022/23

A record £442.6 million net revenue profit for the nation’s finances.

  • We delivered a net revenue profit of £442.6 million for the nation’s finances, £129.9 million higher than the previous year.

  • The increase reflects option fee income from the signing of Agreements for Lease for six offshore wind farms through the Round 4 leasing programme, as well as resilient revenues across our business.

  • The value of our portfolio increased 1.3% to £15.8 billion, primarily as a result of an increase in the valuation of our Marine portfolio.

Dan Labbad, The Crown Estate Chief Executive, seated at a table.

At the heart of The Crown Estate lies a set of core duties – to grow the value of the portfolio into perpetuity and return the income to the Treasury, for the benefit of the nation, its finances and its future.

Dan Labbad, Chief Executive

  • 87% of employees

    say The Crown Estate is a "great place to work" in our 2022 people survey, up from 78% the previous year

  • 11 million homes

    Our cumulative offshore wind capacity of 11.8GW provides enough clean energy to power around 11 million homes

  • 1.5% reduction

    in our absolute energy consumption year on year from 97,348MWh to 95,891MWh

Download our 2022/23 Annual Report

Robin Budenberg, Chair of The Crown Estate, seated at a table.

Our commercial focus is fundamental to the way we operate – by generating significant financial returns we are able to drive broader value creation aligned to our purpose.

Sir Robin Budenberg, Chair

2022/23 supplementary reports

Our strategy in action

We make the most of our unique attributes and diverse national portfolio to generate wide and lasting value.