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103-2 | 103-3: Economic Performance

The geographical diversification of operations in South America is at the heart of Athena Foods’ business strategy. Its plants in Argentina, Colombia, Paraguay and Uruguay are located near ports that provide the best access to markets around the world. This positioning also increases the company’s ability to export to different countries and allows it to increase its business opportunities.

A further advantage of diversification is the abundance of pastureland across South America. This reduces dependence on and exposure to price variations in the purchase of grain or fuel costs for instance. The presence in the different markets of the region enables proximity with suppliers and the development of best practices in the production chain, in addition to reducing the costs of raw materials, thus having a strong impact on the efficiency of risk management inherent to the business.

In this regard, the Company seeks to work in a transversal and integrated approach in order to monitor, mitigate and control the main risk factors, based on the circumstances of each country. It is a process developed to improve the consistency of management decision-making by involving multiple teams and artificial intelligence resources. All systems that have proven indispensable for Minerva Foods’ operational and business efficiency, such as the Beef Desk and Key Performance Indicators (KPIs) have now been implemented within the countries that make up Athena Foods.

Promoting mutual advancement is one of the most important aspects of the strategy and management model, while always taking into account the unique characteristics of each country and its multicultural features. After all, each market in which Athena maintains its operations has its own unique backdrop, with specific legislation, particular consumer habits and its own style of work. The integration of Minerva Foods with Athena Foods considers these aspects and the continuous exchange of experiences and learning as a means for all to advance and promote improvements in each of the countries.

As part of the Company’s business plan, the focus in all countries is to strengthen the position of beef producers and their derivatives. This is achieved through the implementation of internal controls and technological innovations in all facilities in order to increase overall operating efficiency. At the same time, Athena Foods seeks to continue strategic investments to mitigate risks and diversify its product portfolio, maintaining high standards of productivity, quality and safety of its food.

Flank Steak
The fraldinha or flank steak is located near the ribs and is composed of long, thick muscle fibers, which provides for a softer and more succulent cut of beef. It is an excellent cut for preparing different kinds of dishes. It can be grilled or roasted in addition to the traditional churrasco or barbecue . The flank steak is also popularly prepared as a stuffed roast, in stews, broths, soup, as minced meat, ground beer, or shredded beef, and in the preparation of the famous carne louca or crazy beef.