Revenue growth in the second quarter accelerated by 16%, underscoring OC VISION’s ability to outperform both market growth and competitors. This performance was supported by the launch of new-concept Vision Express stores in Riga’s Akropole Alfa and Spice shopping centres, alongside the repositioning of the VIZIONETTE store in Origo to an OptiO format, with plans to open a brand-new VIZIONETTE store in Spice this August. In addition, the OptiO store in Justiniškių Norfa, Vilnius, was fully upgraded. Currently, the average OC VISION store is 4.8 years old since its last renovation, reflecting the company’s commitment to continuous modernization.
Significant investments were also directed towards digital transformation and IT infrastructure. The company introduced a new HR system and shift planning module, while customers now benefit from an advanced online appointment booking system available through www.redzesparbaude.lv, www.dzirdesparbaude.lv, and OC VISION’s omnichannel retail websites. The rollout of digital patient cards and a new CRM platform marks a milestone in the company’s customer service journey, aiming to further boost sales efficiency and client satisfaction.
A major financial milestone of the quarter was the successful completion of a €10 million public bond issue, advised by Signet Bank, TEGOS, and Sorainen law offices. The bonds, with a four-year maturity and 6% coupon, were oversubscribed 1.3 times and are now listed on Nasdaq First North. The program also introduces an investor loyalty initiative, offering private investors exclusive opportunities to become OC VISION clients in both the eyecare and audio businesses. Proceeds from the bond issue will be used to refinance the existing ALTUM loan ahead of schedule and to support the company’s R&D and M&A strategy.
“OC VISION’s strong half-year results reflect the strength of our brand portfolio, the success of our retail expansion, and the rapid progress in digital innovation,” said Toms Dzenis, OC VISION Group CEO. “The oversubscribed bond issue demonstrates market confidence in our growth strategy, while our ongoing investments in technology and customer experience will continue to drive long-term value.”
On 25 March 2025, the Central Finance and Contracting Agency (CFCA) approved the investment project application No. 1.2.1.3/1/25/A/001 “Attracting Capital Market Financing for SIA OC VISION to Enhance International Competitiveness and Investment in Development and Innovation.” The project aims to raise financing through the capital market. The total eligible project costs are €266,866.56, including €102,000.00 in ERDF support and €18,000.00 in national co-financing.
