CHAIR'S ADDRESS - AGM 2025
ODMA MEMBERSHIP
ODMA’s membership is currently 53 members. There were 3 new members across the frames and accessories segments welcomed since the last AGM. Of the 4 departing members, 2 were due to acquisitions of members by other members, and the others a change in business focus or strategy rather than any expressed discontent with membership.
ODMA BOARD
ODMA’s board directors serve for a two-year term with elections are held every second year. It is a sign of a healthy organisation to have lots of interest in serving on the board and we have seen that in 2025. A voting update follows later in the agenda to announce the forward Board Directors.
At this point in the proceedings, I would like to thank all those Directors that have served the whole or part of this last two-year term alongside myself being Rob Sparkes ODMA’s prior Chair, long serving Director Lionel Minter, Brad Saffin our Deputy Chair, Mark Altman, Angelina Chee, Gail Giordani, Jacque Katsieris and Michelle North.
INDUSTRY UPDATE
This last twelve months has seen continued cost pressures and tariffs for the supply segment of the optical industry as well as new and growing corporate players competing with the independent practice sector.
In the distributors and manufacturers segments we have seen several mergers and acquisitions take place.
Many optical practices continue to work to differentiate themselves as well as improve business management processes that supports their health care offering. ODMA witnessed strong demand for the business focused educational sessions offered at ODMAFair25.
Of course, new technologies are progressing at rapid speeds, from AI integration into business practices, through to evolving software for practice management and in the products themselves, such as smart wearables.
We see the continued ageing of the population as well as much focus on the young members of the population through focused myopia care messaging, all of which present huge potential demand for optical products and services.
EVENTS – ODMAFair25
ODMA delivered a very significant event for the industry at the end of June, being ODMAFair25 held at the ICC, Sydney. ODMA is proud to have delivered a well-executed, well attended live event in what are tougher market conditions to years gone by. The support of exhibitors was a testament to the reputation ODMA has for delivering strong events and to the continued desire for suppliers to have a platform to reach the independent market face to face in an environment focused on doing business and where multiple products can be presented to multiple members of a practices team and in a short space of time. The CEO’s report will outline some of the statistics of this event.
2025 also saw ODMA hold its first Women in Optics event, an initiative that is being taking forward to support the industry’s current and emerging leaders and those that champion them.
O-SHOW26 has already been announced for August next year. The timing closer to SILMO and the purpose-built venue MCEC alongside ODMA’s initiatives to include a fashion focus catwalk feature and a Myopia Mastery event focused on the business side of Myopia offerings, is resulting in strong early booth demand.
TARIFFS
Despite ongoing activities by ODMA through further letters to Government and writing to local MPs. ODMA has also recently been investigating if an application to re-apply for the concession order was viable on the news that the supplier at the centre of the revocation was no longer manufacturing. A bulletin to members will be out by the end of November outlining the full details and an update. ODMA is committed to keeping up communication with Government as appropriate, pursuing any future nuisance tariff avenues and keeping members updated on any EU Free Trade Agreement progress.
INDUSTRY REPRESENTATION – TGA, STANDARDS, EDUCATION COMMITTEES
ODMA continues to stay abreast of matters relating to the Therapeutic Goods Administration (TGA) and Standards and ensures there is representation on relevant committees. The CEO continues to attend TGA RegTech meetings, sharing relevant updates with members and makes available TGA meeting minutes.
Standards representatives attend Standards Australia meetings and provide input as required to projects. There is current discussion by both Standards Australia and the TGA to align Australian Standards more closely with international ones and any developments in this area will be shared with the membership.
EYE TALK
All quarterly Eyetalk Reference Guide editions and supplementary magazines, namely the Progressive Lens Guide and Equipment+ Magazine, were delivered in the last 12 months to approx. 2,500 recipients. This past twelve months saw Eyetalk produce two Lookbook issues.
Subscriber demand for the printed Eyetalk Reference Guide remains strong digital subscriptions remained stable however it is only in recent times that Eyetalk has launched its new subscription package options and is actively promoting Eyetalk to increase digital subscriptions. This growth focus is linked to the implementation in January 2025 of the new Eyetalk subscriber portal which is more of a self-service tool, allowing subscribers to easily manage their subscription and access new and increasing resources in the resources section. The portal allows for increased subscriber engagement, efficient distribution of information, increased subscriber revenue streams, reduced debtors given the focus on credit card payments and reduced administration work for Eyetalk thus enabling more of a focus on creating new assets and strategic plan deliverables. The transition process of moving subscribers to the new platform is due for completion in January 2026. ODMA believes there remains an opportunity to increase the number of digital subscribers and is looking at various models as ODMA engages with PMS systems on future data distribution models as the PMS systems move to new strategies and cloud systems.
Another massive project this last twelve months saw ODMA finalise its extensive feedback from the optical industry on Eyetalk’s published Suggested Retail Prices. The October issue of the Reference Guide included recalibrated SRPs for all listed lens products. This was a huge undertaking done in conjunction with independent practice input and will allow for easier price adjustments in future years for CPI and other external factors as well as more tailored approaches to SRPs for specific products that require that given changing technologies.
Further improvements were made to the Reference Guide regarding readability, user guides, and lens classifications. Eyetalk still sees a huge potential to leverage the much-used Suppliers Guide and Brand Finder.
Lookbook has achieved establishing a presence as a beautiful looking and useful consumer-facing eyewear and eyecare publication. Currently the publication is being invested in rather than being a huge revenue generator for Eyetalk however the growing digital assets and strategic opportunities this link to consumers of optical products provides remains an exciting one.
The major new initiative Eyetalk has invested in this year is the LocalEyez independent practice finder. This is linked to the Lookbookau website to best reach the consumer audience and seeks to encourage consumers to buy local and buy independent, thus in turn generating more demand for ODMA member products. This initiative is in its early stages however to have achieved building the tool, launching it at ODMAFair, loading hundreds of independent practice details and commencing SEO work to maximise the offerings reach has been a great achievement. SEO work will continue as will loading more practices and in the future Eyetalk hopes this to be a new revenue generation tool from both supplier and practice advertisements and content.
MEMBER SERVICES
One of the most important ongoing services that ODMA offers its members is its Optical Industry Research. ODMA spends a significant budget on producing this offering. ODMA utilises the services of an independent researcher to ensure this important resource continues and provides an ongoing history and insight into the optical marketplace here in Australia. The next ODMA Industry Snapshot Report is due to be completed in the first quarter of 2026. ODMA has significantly increased its monetary investment in this report in 2025 for the benefit of members and subscribers alike. A new researcher has been appointed who will provide increased insights at the consumer and practice level than prior reports have delivered. ODMA felt the time was right for a refresh to its report format and will provide more graphical and snapshot findings as well as draw conclusions on any gaps that exist between practice offerings and consumer demand.
Discounts and savings that ODMA can help negotiate for the industry are another way the Association serves the industry. During this last 12 months ODMA has seen a change in contacts at Team Global Express (formerly TOLL) however is working to reestablish a close working relationship to make dealing with this large organisation easier for members, and where possible, for deals to be negotiated taking into consideration the overall industry utilisation of the Team Global Expresses services. Members will be provided with a bulletin as soon as further information is received from Team Global Express.
Additionally, this year ODMA has communicated details of both an Energy service and Insurance organisation that can assist both members and practices with potentially saving on energy and insurance related services.
Another additional benefit for members has been the introduction of a Melbourne annual member lunch catch up and networking event to supplement the yearly event held in December in Sydney.
OPTICAL INDUSTRY SUPPORT
ODMA continues to offer financial support through membership to VISION20/20 and in-kind support to the Macular Disease Foundation, and to help circulate their messaging when requested.
ODMA also continues to offer scholarships in Optical Dispensing to those employed in independent practice and to staff of ODMA members who undertake the Certificate IV in optical dispensing.
Eyetalk provides free advertorial opportunities for organisations such as TAFE NSW and ACOD and relevant Universities as well as free subscriptions of Eyetalk to final year students and then for them in their first year of practice.
ODMA has continued involvement with planning input and ideas for UNSW through inclusion in their Visiting Committee meetings to ensure a channel between students and suppliers as well as the promotion of careers in independent practice.
FINANCIAL STATEMENTS
ODMA’s Financial Statements for the year ending 30 June 2025 have been circulated. ODMA’s accounts are required to be audited every year and the prior auditors were reappointed. We refer you to the auditors’ report within the financial statements for full details and ODMA Director Brad Saffin, who also serves in the role of Treasurer for ODMA, will now provide further financial commentary.
FINANCIAL REPORT AS READ BY THE ODMA TREASURER
Financial Update for FY25
ODMA is pleased to present the financial commentary for ODMA for the fiscal year ending 30 June 2025, as outlined in the circulated audited financial statements.
Event Timing Impact on Financial Results
This year’s financial results represent a standard year with one major event being delivered in the financial year.
Given ODMAFair was delivered within days of the end of financial year, necessary journal adjustments were made to recognise expenses still to be paid and revenue still due to be received, mainly from educational sessions and the reimbursement of some costs for the collaborative events that were all paid for through ODMA’s master account with the ICC
Some costs and deposits were paid in FY25 for ODMA’s FY26 event, being O-SHOW26, and whilst sunk costs were included, the major venue deposit was handled as a prepayment.
Adjustments and Key Financial Activities
Subscriptions and Memberships:
Forward-billed revenues for Eyetalk subscriptions, ODMA memberships, and pre-paid advertising have been adjusted in compliance with Australian accounting standards.
2. Employee Costs:
Staff expenses were reduced as only the CEO role was employed year-round alongside some casual employee assistance for bookkeeping.
3. Research Investments:
Costs for ODMA’s bi-annual research program will be included in FY26, aligning with the delivery of the next report to members Q1 of the 2026 calendar year.
4. Technology Enhancements:
Continued investment in the Eyetalk Reference Guide portal began in 2021, aimed at improving efficiencies.
Eyetalk’s new subscriber portal incurs only monthly license subscription costs, no build costs were incurred
LocalEyez service build costs have been paid for in FY25
5. Specialized Projects:
Contractors were engaged during in the financial year to assist with specialized projects, including:
Updates to Eyetalk SRP.
Eyetalk digital data distribution via PMS channels management.
Production of the Progressive Lens Guide.
Preparation for the Industry Research report to be published in the first quarter of 2026
Cash Position and Risk Management
ODMA maintains a healthy cash reserve in term deposits to ensure financial stability and support strategic projects. This aligns with the organization's risk management strategy.
Goodwill Valuation and Impairment
Goodwill associated with the Eyetalk business underwent an annual asset valuation check. On considering the economic and competitive landscape and current financial results of this side of the business, as well as future opportunities, it was decided that the valuation should remain stable. A reminder that this goodwill valuation was written down in the prior financial year, resulting then in an impairment expense. The carrying amount of goodwill thus remained at $611,012 with methodology and the valuation approach verified by ODMA’s auditors.
Audit and Compliance
ODMA’s accounts were audited by the reappointed external auditors. While fees are a significant line item in ODMA’s budget, the audit process upheld transparency and compliance. ODMA will however ensure that fees are in line with market expectations. It should however be noted that only a vote by members can change the auditing organisation utilised as the current auditors need to be voted out and new auditors then appointed.
Please refer to the auditors’ report in the financial statements for further audit details.
Closing Financials Remarks
In conclusion, FY25 has been a year of solid financial performance and the first full financial year under an organisational model that minimises employed staff and leverages consultants who are scalable and experts in their fields. A profit has been achieved in tougher economic times compared to years gone by and ODMA has still achieved strategic investments for future benefit. The term deposit reserves remain for use for both special projects outlined in the strategic plan, unforeseen expenses and as part of ODMA’s risk management strategy.
Motions to accept the financial reports as circulated and to re-appoint the current auditors were conducted.
CEO’s REPORT
EVENTS
Delivery of ODMA’s major event remains a major focus and revenue opportunity. The location at Darling Harbour proved attractive to visitors, as did having 9,000 sq m of products and services from 81 exhibiting organisations under one roof. 2,692 unique visitors with total industry visits to the show including trade and revisits close to 4,000 this was above ODMA’s expectations and goals. Attracting optometrists as well as owners, managers and dispensing team members makes for a strong event and ODMA was also pleased to see that over 40% of visitors were from outside NSW, showing ODMA events are truly national offerings.
Supporting the main trade fair, the show features included a Knowledge Centre, practical education streams, networking events, an opening breakfast keynote, awards, prize draws and product announcements. ODMA was especially thrilled with the optical industry engagement of the Awards program from both a supplier and practice point of view. 2,170 votes were submitted across the awards categories. From a collaborative perspective, ODMA reaching out to OA NSW/ACT and ACBO to ensure those events could be conducted alongside ODMAFair as well as the ODA Frames Repair Workshops. Providing venue support to those organisations meant for a mutually beneficial arrangement as well as audience attendance maximisation.
I continue to provide articles and commentary on why practices benefit from attending live events and have more recently also penned an article on why spin off events will, over time, damage the broader industry and thus why we ask members to support the main industry event for mutual benefit.
I am proud of ODMA’s efforts to always look for new initiatives at our live events and planning for our Myopia Mastery and Women in Optics offerings alongside O-sHOW26 are well underway.
OTHER INITIATIVES
This year has also seen us engage an agency to improve our social media presence and look and feel given the importance of these channels.
Eyetalk improving its offering as outlined prior with the SRP updates and offerings such as LocalEyez and the new subscriber portal represent key projects delivered to help set Eyetalk up for the future. Delivering these important improvements whilst maintaining current offerings is something I am proud we have been able to achieve.
I am also proud of the less attractive deliverables shall we say, that are also very important, these include my delivery of a modern Constitution by which ODMA can now govern, as well as important tools such as a Director’s handbook and a comprehensive Director Induction Guide.
The Member networking lunch will take place in Sydney on December 10th. Invites were a little late in being received due to a renovation of our original venue meaning we had to find a new venue last minute. I am thrilled with how well received and supported the idea of the Melbourne lunch was in 2025 and we plan for our next one of these around April in 2026.
The Women in Optics initiative is one that I am proud of because the more we help these inspirational leaders and practice owners in our optical community to thrive and grow and encourage others to do the same, the stronger independent practice will be. We know that there is a greater percentage of female optometrists and that they can often shoulder a greater juggle of career maintenance especially those with families and I am proud of the content we will deliver for peers to workshop key topics that they have identified as challenging for them.
The research we are undertaking is quite a bold change to prior reports however I am aiming to still deliver the high-level statistics and industry breakdown I know members find useful. The aim is to have the remainder of the report deliver elevated insights from a practice and consumer level and I seek your input on the report when delivered to ensure we keep this resource as useful as possible to you all.
This year has also seen us document a forward strategic plan as our prior one was well out of date. This will of course be a working document however I am working on reducing it to a snapshot plan that I can share with members given I aim to keep members as informed and involved as possible.
Risk Management is something crucial when the Association is a support to trade and when it is a lean organisation relying on a few individuals. On this note, work is mainly completed on the Eyetalk data procedures manual which is a complex part of the ODMA business given the many thousands of lenses we manage and check and number of suppliers we liaise with.
I love this role and will continue to reach out when travelling interstate to keep up my onsite member
meetings and to collaborate for ODMA’s benefit and to work hard to deliver on the strategic plan set by your Board of Directors.
IN CONCLUSION
In closing, ODMA is an extremely lean organisation that is not an Association that has a vast pool of potential member organisations nor Government financial support however it continues to work hard to raise revenue and deliver promotional avenues and industry support by continuing to adapt and pivot. This is being achieved through the utilising of the skills of consultants, agencies, board directors and industry stakeholders to ensure the Association remains relevant. Current strategic focus sees ODMA offering more tailored print opportunities as well as digital communications space as print advertising and live event participation budgets decline for many suppliers. ODMA continued to week ways to invest wisely in support independent practices to thrive, thus in turn creating demand for ODMA member offerings.
