Some geographic and portfolio diversification, which allows Minerva to reach a broader export market for its beef production, however still lower than its peers; Expected higher slaughtering capacity, which might increase the company's economies of scale in raw material sourcing and logistics, as well as the plants' utilization capacity; Sound operating efficiency, with fairly stable EBITDA margin despite recent increase in cattle costs; and Exposure to uncontrollable industry risk factors, such as raw material availability, trade barriers and sanitary diseases as well as to the intrinsic volatility of demand and prices of its commodity-type products. Strong liquidity which mitigates current high gross leverage and provides cushion against commodity volatility; "Highly leveraged" financial metrics, but the company should gradually pay down
