7. PE and the pandemic: MatHem
Interview with Jaana Viertola-Truini, CFO
Q: How has the coronavirus affected the business and working methods?
A: We have seen a considerable increase in demand from consumers because of the pandemic. This has led to challenges in meeting that demand. The pandemic has made MatHem an essential service in society. It has been vital for us to take care of groups most affected by the pandemic, for example, by offering prioritised time slots for older people. Since April 2020, we are very proud to have doubled our capacity and sales compared to the year before. We have both opened a new customer fulfilment centre and moved to a larger one to supply the increased customer base.
Q: Were you in need of fresh capital during 2020?
A: Because of the pandemic, the need for capital increased, but our liquidity was good throughout 2020. There was no urgent need to raise additional financing. Because of significantly larger volumes and a greater interest in the company, it has been easier to follow the existing plan for long-term financing.
Q: What does it mean to have an active owner in such a crisis?
A: It has been invaluable. Verdane is a well-informed investor who has been involved for a long time and understood the challenges we faced during this special year. This led to an effective dialogue, and we have appreciated their broad knowledge and strategic perspective. From a financial point of view, it has been essential to have a stable base to stand on, where long-term goals are not compromised to handle short-term issues.
Q: Has the crisis led to market opportunities?
A: Yes, definitely. We see a higher online penetration in the market and have broadened the customer base since the start of the pandemic. The lockdown changed customer behaviours and opened new target groups such as the 65+ age bracket, which before covid-19 used our service less.