RIGA, LATVIA – February 27, 2026 – OC VISION Group, the Baltic region’s leading integrated vision and hearing care provider, today announced its unaudited financial results for the fourth quarter (Q4) and the full fiscal year ended December 31, 2025. Despite a complex macroeconomic landscape and geopolitical volatility, the Group achieved record-breaking top-line growth and successfully transitioned to a public-market-facing capital structure.
2025 Financial Performance Highlights
- Net Turnover: Increased by 8.5% to a record €39,039,463 (FY 2024: €35,991,377);
- Q4 Momentum: Achieved 4.3% year-over-year revenue growth in Q4, significantly outperforming the broader Latvian retail market, which saw a 2% decline during the same period;
- Gross Profit: Rose to €24,825,882, maintaining a robust gross margin of approximately 64% despite rising global procurement costs;
- Strategic Liquidity: Year-end cash position strengthened to €4,123,513, maintaining a good liquidity position for further expansion plans.
Navigating Macroeconomic Headwinds
The 2025 fiscal year was characterized by persistent inflationary pressures (3.9% in Latvia, 3.4% in Lithuania) and high wage growth (8.0%–8.1%). While OC VISION reported a consolidated net loss of €397,625, this figure was primarily driven by a non-recurring one-time additional interest expense of €859,727 related to the successful refinancing of Group debt through a €10 million inaugural bond issuance in June 2025. Absent this one-time capital structure adjustment, the Group’s operational profitability remained strong, with a normalized Profit Before Tax of approximately €470,000.
Strategic Transformation and Modernization
“In 2025, the company bolstered its presence in the medical sector and accelerated its digital transformation, successfully driving productivity growth while maintaining our industry-leading service quality,” stated Toms Dzenis, CEO.
Key operational milestones included:
- Bond Issuance: Successfully listed €10 million in 6% fixed-rate secured bonds on the Nasdaq Baltic First North market, protecting the Group from Euribor fluctuations until 2029;
- Infrastructure: Relocated headquarters to a high-efficiency “stock-office” facility on 34 Ulbrokas Street, Riga, centralizing warehouse and logistics;
- Digital Expansion: Completed the acquisition of See Good SIA to accelerate e-commerce marketplace growth;
- Medical Innovation: Invested over €2 million in diagnostic technologies and store modernizations in Latvia (TC Alfa, TC Domina, TC Spice, and Ogre) and Lithuania (TC Justiniškių Norfa, TC Mindaugo Maxima, TC RYO, TC Eglute IKI).
Financial Stability and Compliance
As of December 31, 2025, OC VISION maintains high compliance with all bond covenants. The Group’s Interest Coverage Ratio stands at an 4.3x (vs. 1.4x required), and the Leverage Ratio is a 2.1x. Total assets increased to €19,809,744, reflecting aggressive investment into the 77-store network and proprietary diagnostic tools.
Future Outlook
By turning macroeconomic headwinds into opportunities for modernization, OC VISION has built a foundation for long-term growth. The Group remains committed to its mission—”Together for perfect sight, since 1991″—leveraging its strengthened cash position and market leadership to explore further M&A and digital channel expansion in 2026.
About OC VISION
OC VISION group is the leading eye and hearing care provider in the Baltics, operating wholesale OPPTICA and retail through OptiO, VIZIONETTE, Vision Express, Dr.Lensor, and Lornete brands across 77 retail locations and online.Gatis Kokins
Board member
Investors relations
investors@ocvision.eu
+371 29209799
www.ocvision.eu
