Riga, May 29, 2026 – The leading Baltic vision and hearing care group, OC VISION (hereinafter – OCV), continued its stable and targeted development in the first quarter of 2026. Although atypical climatic conditions in January and February impacted the retail dynamics of vision correction across the region, a significant improvement in customer activity was already observed in March, allowing the quarter to close on an upward note.
Financial Performance and Investments
The first quarter results confirm the group’s financial stability and its ability to generate a positive cash flow even amid seasonal challenges:
- Revenue: OCV’s first-quarter revenue reached EUR 9.75 million
- EBITDA: The trailing 12-month EBITDA reached EUR 2.5 million
- Cash: During the quarter, cash position increased by EUR 421 thousand, ending the period at EUR 4.5 million
- Capital Expenditures: In the first three months of the year, OCV invested over EUR 371 thousand, which was directed toward establishing new optics salons, investing in new business lines, and upgrading medical and technological equipment
Key Strategic Events and Development Directions
In Q1 2026, several significant projects were implemented, establishing a solid foundation for the OCV group’s long-term growth and service diversification.
Establishment of the new ENT clinic “LORENT”
In cooperation with the leading otolaryngologist Dr. med. Rūdolfs Jānis Vīksne and the healthcare service platform “MeDi Group”, OCV is a co-founder in the establishment of the new clinic “LORENT”:
- Investments and participation: The initial project investment is EUR 2.5 million, with OC VISION holding a 10.6% stake
- The clinic will provide full-cycle ear, nose, and throat (ENT) healthcare—from precise diagnostics and specialist consultations to modern surgical operations—all in one place
- “LORENT” will also act as a competence centre and strategic partner for four Vision Express hearing centres in Latvia
Expansion and optimization of the optics network
To enhance customer service and efficiency, OCV made strategic changes to its retail network:
- The renovated VIZIONETTE optics store opened its doors in the Riga shopping centre “Domina Shopping”
- The Vision Express store was successfully relocated within the Kaunas “Akropolis” shopping centre, introducing the brand’s latest interior concept
- The Vision Express store in the Riga shopping centre “Mols” was closed due to the initiation of the shopping centre’s reconstruction. Its reopening in a new format is planned after 2028
OPPTICA Rebrands as MEDICCA and expands operations
The wholesaler of ophthalmic equipment and products, OPPTICA, has initiated a rebranding to MEDICCA. This rebranding reflects the expansion of the company’s business scale. Moving forward, MEDICCA will offer premium equipment not only to the optics and ophthalmology sectors but also to other medical segments, especially surgery, ENT, gynaecology, and dentistry.
A significant step in this direction is the newly concluded exclusive partnership with ATMOS MedizinTechnik – a leading German medical technology manufacturer, particularly in the fields of medical suction systems, ENT, and gynaecology equipment. The first devices from this manufacturer have already been delivered to the Latvian market in Q2 2026.
Toms Dzenis, CEO of OC VISION Group:
“OC VISION’s stable performance in Q1 2026 lays a secure foundation for sustained growth throughout the year. Investments in the ENT and hearing care business, which are closely related to eye health, the modernization of our retail network, and the exploration of new niches in medical equipment wholesaling are our well-considered response and strategic solution for business growth in the current macroeconomic and geopolitical conditions.”
About OC VISION
The OC VISION group is the leading provider of vision and hearing care services in the Baltic States. The group represents the wholesale brand OPPTICA (MEDICCA) and develops retail operations with strong brands such as Vision Express, VIZIONETTE, OptiO, Dr. Lensor, and Lornete, serving customers across 78 retail locations as well as on modern online platforms.
For further information:
Gatis Kokins
Board Member | Investor Relations
Email: investors@ocvision.eu
Phone: +371 2920979
