OC VISION Reports Record 2025 Revenue, Navigates Economic Headwinds with Successful Bond Issue
Riga, Latvia – February 27, 2026 – OC VISION Group, the largest vision care company in the Baltics, today announced its unaudited financial results for the fourth quarter (Q4) of 2025 and the full financial year ending December 31, 2025. Despite a challenging macroeconomic environment and geopolitical uncertainty, the group reported record revenue growth and a successful transition to a financing structure aligned with public capital market requirements.
Financial Highlights for 2025
- Record Revenue: Net turnover increased by 8.5% to €39,039,463 in 2025, compared to €35,991,377 in 2024.
- Q4 Growth: Revenues in the fourth quarter rose by 4.3% year-over-year, outpacing the overall Latvian retail market, which experienced a 2% decline during the same period.
- Gross Profit: Gross profit reached €24,825,882, maintaining a strong gross profit margin of approximately 64%, despite rising global procurement costs.
- Cash Position: The cash balance at year-end grew to €4,123,513, providing a solid liquidity position for future expansion plans.
- Net Loss & Bond Impact: The group reported a consolidated net loss of €397,625. This was primarily attributed to one-off interest costs of €859,727 related to the successful €10 million bond issuance in June 2025. Excluding these costs, the group’s core operating profitability remained strong, with a normalized pre-tax profit of around €470,000.
Strategic Achievements in 2025
OC VISION demonstrated significant progress on several key strategic initiatives throughout 2025:
- Successful Bond Issue: The company successfully listed €10 million in secured bonds with a fixed rate of 6% on the Nasdaq Baltic First North market , protecting the group from Euribor fluctuations until 2029. Demand for the bonds reached 130% of the issue target, totaling €13.1 million.
- Infrastructure Upgrade: OC VISION relocated its main office to a modern, high-efficiency “stock-office” complex at Ulbrokas street 34, Riga, centralizing warehouse and logistics functions.
- Digital Expansion: The company completed the acquisition of See Good SIA to accelerate growth in e-commerce marketplaces.
- Investment in Innovation: More than €2 million was invested in diagnostic technologies and salon modernization across Latvia and Lithuania.
Financial Stability and Compliance
As of December 31, 2025, OC VISION fully met all bond obligations (covenants). The group’s interest coverage ratio reached 4.3x (above the required minimum of 1.4x), and the leverage ratio was 2.1x. Total assets increased to €19,809,744, reflecting targeted investments in its network of 77 salons and modern diagnostic tools.
Looking Ahead to 2026
“In 2025, the company strengthened its presence in the medical industry and accelerated the digital transformation, successfully ensuring productivity growth while maintaining the best service quality in the industry,” said Toms Dzenis, CEO. The Group plans to continue evaluating new business acquisition (M&A) opportunities and expanding its digital channels in 2026.