Riga, August 14, 2026 – The Baltics' leading vision and hearing care group OC VISION (hereinafter – OCV) continued its growth in the second quarter of 2026, demonstrating an increase in profitability. Although modest economic growth has not significantly increased household purchasing power (with annual gross wage growth in the first quarter exceeding inflation by only 1.3% in Latvia and 3.8% in Lithuania), OCV has been able to grow its turnover.
Financial Performance and Investments
The second quarter results confirm the group's financial potential and ability to ensure growth even under conditions of slow macroeconomic development (GDP in Q1 2026 grew by +2.5% in LV and +2.3% in LT).
- Turnover: OCV's second quarter turnover reached EUR 9.9 million;
- Gross Profit: OCV's second quarter gross profit reached EUR 6.6 million, which is 11% more than a year ago;
- EBITDA: The last 12 months' EBITDA reached EUR 2.9 million, which is 15% more than in the previous quarter;
- Cash and cash equivalents: At the end of the second quarter, OCV's free cash and cash equivalents amounted to EUR 4.2 million;
- Capital expenditure: In the second quarter, OCV invested 372 thousand euros, which were mainly used for the establishment of new optical stores, investments in new business directions, as well as the improvement of medical and technological equipment.
Key Strategic Events and Development Directions
In the second quarter of 2026, several significant projects were implemented that strengthen the long-term growth and service diversification of the OCV Group. The main events were the opening of the "LORENT" clinic, the expansion and renovation of the optical store network, and the development of "MEDICCA".
Opening of the "LORENT" Clinic
In cooperation with the leading otolaryngologist Dr. Rūdolfs Jānis Vīksne, PhD and the healthcare services platform "MeDi Group", OCV is a partner in the establishment of a new ear, nose, and throat health clinic "LORENT". It was opened on June 17, 2026, and quickly became highly sought after by patients.
- Investments and participation: the initial investment in the project is EUR 2.5 million, and OC VISION's participation in it is 10.6%.
- Full-cycle care: The clinic provides full-cycle ear, nose, and throat healthcare. The clinic started operations with outpatient consultations, but from July 2026 "LORENT" will offer surgical operations for both adults and children.
- Competence center: "LORENT" also acts as a competence center and a strategic partner for four Vision Express hearing centers in Latvia.
- Staffing: The staff of "LORENT" currently includes 8 doctors, two of whom hold a PhD. Several doctors specialize in middle ear surgery, endoscopic surgery, neurotology, sleep disorder treatment, and children's hearing health. In addition, "LORENT" employs 3 audiologists-speech therapists (including myofunctional therapy specialists) and 4 nurses.
Expansion and Renovation of the Optical Network
In order to improve customer accessibility and business efficiency, OCV has renovated or newly opened several optical stores in the second quarter of 2026:
- A new OptiO store was opened in the "Urmas" shopping center in Kaunas;
- A new Vision Express store was opened in the "Outlet" shopping center in Vilnius;
- A Vision Express store was renovated in the "Akropolis" shopping center in Siauliai.
At the end of the second quarter of 2026, OCV had a total of 78 stores across the region.
"MEDICCA" Develops New Business Directions
In the second quarter of 2026, "MEDICCA", OCV's medical equipment and product wholesaler, continued to purposefully strengthen its position in the Latvian medical technology market by implementing several strategically important projects, expanding cooperation with healthcare institutions and international partners. "MEDICCA" was the first in the Baltics to successfully introduce the new generation ATMOS ENT workstations. ENT diagnostics and MAICO newborn hearing screening equipment are currently being tested. A significant contribution was also made to the company's digital development, developing and launching a new and user-friendly "MEDICCA" website.
Toms Dzenis, CEO of OC VISION Group:
"OC VISION's profitability performance in the second quarter of 2026 confirms that the homework done on increasing efficiency and improving product sales is bearing fruit. The corporate group is improving its operational profitability by focusing on strengthening its core business in the medical sector. Positive development trends are observed in the e-commerce and medical device wholesale and service segments."
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 MEDICCA and develops retail under strong brands such as Vision Express, VIZIONETTE, OptiO, Dr. Lensor, and Lornete, serving customers in a total of 78 sales outlets, as well as on modern online platforms. The OC VISION Group is a partner in the ear, nose, and throat health clinic LORENT.