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20231012_海通证券_食品行业行业专题报告:整体复苏平稳盈利有所改善_49页.pdf

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20231012_海通证券_食品行业行业专题报告:整体复苏平稳盈利有所改善_49页.pdf

Table_MainInfo/2023 10 12 Table_InvestInfo Table_QuoteInfo 2971.348236.2613501.1818766.1024031.0229295.952022/9 2022/12 2023/3 2023/6 Table_ReportInfo 1-8 13.2%2023.09.25 8 4.6%2023.09.20 2023.09.14 Table_AuthorInfo:Email:S0850520020001:Tel:(021)23185685 Email:S0850520100001:Tel:(021)23154172 Email:S0850520050001:Tel:(021)23185613 Email:Table_Summary 23Q2 23H1/23Q2+3.17%/+0.22%290.57/137.35 23H1 17.47 23H1/23Q2-1.93%/-8.18%53.17/24.05 23Q2/-2.15%/-13.88%/+16.53%/+8.45%/-21.35%-105.64%/-0.03%/+41.75%/-10.97%/-30.77%23H1 23H1 23 23H1/+2.84%/+5.04%965.84/73.91 23Q2+5.09%/+2.71%430.17/11.71&23 23H1 A/+21.89%/+45.50%149.46/27.38 23Q2+26.06%/+45.24%64.58/10.32 23H1/27.24%/27.26%/10.17%/37.23%23 23H1 A/-6.05%/17.56%165.02/12.59 23Q2 4.45%/3.97%73.27/3.77 23H1/+11.62%/-13.14%23Q2 17.83%/-2.53%Table_StockInfo EPS 2022 2023E 2024E 603288 1.11 1.13 1.29 603027 0.33 0.51 0.69 603317 0.32 0.42 0.56 600872-0.75-0.95 1.04 600887 1.48 1.64 1.94 002557 1.93 1.55 2.07 605499 3.60 5.00 6.25 605337 0.56 0.74 0.96 003000 0.28 0.40 0.55 资料来源:Wind,海通证券研究所 2 1 2 3 4 ZXBYzQsPoNmNoQoNsPtMqR7N8Q7NsQrRsQtQjMpOmMkPqRmP9PqRmQNZsRqNvPtOnP 3 1.23Q2.8 2.23H1.17 3.&.26 4.36 5.48 6.48 4 1 2017.8 2 2017.8 3 2017.10 4 2015.1-2023.7.10 5/2015.4-2023.8.10 6 2017.12 7 2017.12 8 2017.12 9 2017.12 10 2017.15 11 2017.17 12 2017.17 13 2017.19 14.19 15.19 16 2017.21 17 2017.21 18 2017.21 19 2017.24 20 A 2017.27 21 A 2017.27 22 A 2017.29 23.30 24.30 25 A 2017.31 26 A 2017.31 27 2017.31 28 2017.31 29 A 2017.33 30 A 2017.37 5 31 A 2017.37 32 A 2017.38 33 A 2017.39 34.40 35 A 2017.41 36 A 2017.41 37 A 2017.41 38 A 2017.41 39 A 2017.42 40 A 2017.42 41 A 2017.42 42 A 2017.42 43 A 2017.45 44 A 2017.45 6 1.9 2.11 3.12 4.13 5.13 6.14 7.15 8.16 9.16 10.18 11.20 12.22 13.22 14.23 15.23 16.25 17.26 18 A 2023H1 23Q2 27 19 A 2023H1 23Q2.29 20 A/2023H1.32 21 A/2023H1 23Q2 32 22 A 2023H1 23Q2.34 23 A/2023H1.35 24 A 2023 23Q2.35 25 2023/9/4.36 26 A 2023H1 23Q2 37 7 27 A 23H1 23Q2.39 28 A/2023H1.43 29 A/2023H1 23Q2 43 30 A.44 31 A 2023H1 23Q2.46 32 A/2023H1.47 33 A 2023H1 23Q2.47 34 2023/9/4.48 8 1.23Q2 23 23H1/+3.17%/-34.15%290.57/35.7 23Q2+0.22%/-74.89%137.35/6.58 23H1 17.47 23H1 23Q2-1.93%-8.18%23H1-0.94pct 33.82%Q2-1.45pct 32.49%23H1/-0.03pct/+0.36pct/+0.16pct/+0.48pct 7.51%/6.18%/-1.26%/12.43%23Q2+0.05pct/+0.19pct/+0.44pct/+0.67pct 7.35%/6.53%/-1.71%/12.17%23H1/23Q2-6.96pct/-14.32pct 12.29%/4.79%1 2017 0%5%10%15%20%25%01002003004005006002017 2018 2019 2020 2021 2022 2023H1 yoy Wind 2 2017-40%-30%-20%-10%0%10%20%30%40%0204060801001202017 2018 2019 2020 2021 2022 2023H1 yoy Wind 23H1 23Q2+3.17%+0.22%23H1 23Q2/-0.28%/-3.71%/+19.67%/+10.23%/-5.97%-2.15%/-13.88%/+16.53%/+8.45%/-21.35%23H1 23Q2-4.19%-5.34%23H1/-9.28%/-5.96%/-0.53%/+12.19%23H1 23Q1+0.08%-1.36%23H1/+7.51%/+10.18%/-10.93%/-2.44%23H1 23Q2+50.89%+33.76%23H1/+60.06%/+26.06%23H1 23Q2-3.71%-13.88%23H1/+2.48%/-11.93%/-19.03%23H1 23Q2+17.42%+12.71%+21.79%23H1/9+13.83%/+20.92%/264.06%/-21.31%/-23.39%23H1 23Q2+12.3%+17.71%23H1/18.65%/-0.4%/-46.36%23H1 23Q2+19.67%+16.53%23H1/+32.1%/+11.64%/+22.74%23H1 23Q2+10.23%+8.45%23H1 7.14%23H1 23Q2-5.97%-21.35%23H1/-10.05%/-28.78%/+31.46%1 23H1 23Q2 23Q1 23H1 23Q2 23Q1 129.66 59.85 69.81-4.19%-5.34%-3.17%26.54 12.88 13.67 0.08%-1.36%1.46%15.31 7.12 8.19 50.89%33.76%69.81%171.51 79.84 91.66-0.28%-2.15%1.41%11.39 5.26 6.13-3.71%-13.88%7.15%14.26 6.59 7.66 17.42%12.71%21.79%1.63 0.83 0.80 12.30%17.71%7.21%11.28 5.89 5.39 23.86%20.94%27.20%27.16 13.31 13.86 19.67%16.53%22.86%67.14 33.17 33.97 10.23%8.45%12.03%13.37 5.77 7.60-5.97%-21.35%10.41%290.57 137.35 153.21 3.17%0.22%5.97%Wind 23Q2 23H1-0.94pct 33.82%Q2-1.45pct 32.49%/23H1-0.33pct/+0.24pct/+0.78pct/-2.18pct/-2.05pct 35.51%/35.72%/35.83%/24.54%/53.05%Q2+0.2pct/+3.25pct/-1.81pct/-3.1pct/-8.87pct 34.61%/36.46%/33.2%/23.65%/48.8%23H1-0.72pct 35.91%23Q2-0.14pct 34.73%23H1-0.05pct 31.95%23Q2+0.85pct 32.53%23H1-0.33pct 38.29%23Q2-0.2pct 34.61%23H1+0.24pct 35.72%23Q2+3.25pct 36.46%23H1+0.97pct 36.23%23Q2-3.38pct 31.13%23H1+0.39 pct 39.64%23Q2+1.48pct 40.55%23H1 10+0.68pct 34.77%23Q2-0.54pct 34.47%23H1-2.18pct 24.54%23Q2-3.1pct 23.65%23H1-2.05pct 53.05%23Q2-8.87pct 48.8%3 2017 0%10%20%30%40%50%60%70%2017 2018 2019 2020 2021 2022 2023H1 Wind 4 2015.1-2023.7 0.600.700.800.901.001.101.201.301.401.50 wind 5/2015.4-2023.8 0200040006000800010000120002015-042015-092016-022016-072016-122017-052017-102018-032018-082019-012019-062019-112020-042020-092021-022021-072021-122022-052022-102023-032023-08:():Wind 11 2 pct 23H1 23Q2 23Q1 23H1 23Q2 23Q1 35.91%34.73%36.93%-0.72-0.14-1.25 31.95%32.53%31.41%-0.05 0.85-0.90 38.29%37.43%39.03%2.92 1.71 4.05 35.51%34.61%36.29%-0.33 0.20-0.84 35.72%36.46%35.08%0.24 3.25-2.82 36.23%31.13%40.62%0.97-3.38 4.66 39.64%40.55%38.71%0.39 1.48-0.72 34.77%34.47%35.09%0.68-0.54 2.06 35.83%33.20%38.36%0.78-1.81 3.27 24.54%23.65%25.40%-2.18-3.10-1.28 53.05%48.80%56.28%-2.05-8.87 3.91 33.82%32.49%35.01%-0.94-1.45-0.53 Wind 23Q2 23H1/-0.03pct/+0.36pct/+0.48pct 7.51%/6.18%/12.43%23Q2+0.05pct/+0.19pct/+0.67pct 7.35%/6.53%/12.17%23H1/+0.41pct/+0.42pct/+1pct 6.5%/5.53%/10.33%23Q2/+1.02pct/+0.05pct/+1.45pct 6.73%/5.71%/10.18%23H1/+0.3pct/+0.19pct/+0.73pct 5.39%/4.55%/7.81%23Q2/+0.89pct/-0.14pct/+1.35pct 5.57%/4.72%/7.51%23H1/+0.34pct/+1.13pct/+1.39pct 8.49%/9.74%/18.13%23Q2/+0.9pct/+0.6pct/+1.34pct 8.4%/9.86%/18.13%23H1/-1.75pct/+0.48pct/-1.88pct 12.53%/6.57%/18.18%23Q2/+1.02pct/+0.05pct/+1.45pct 6.73%/6.54%/18.25%23H1/+0.31pct/-0.14pct/-0.06pct 14.18%/8.04%/22.15%23Q2/+0.68pct/+0.88pct/+1.35pct 16.24%/8.14%/24.27%23H1/-1.09pct/+1.3pct/+0.36pct 13.84%/7.32%/20.84%23Q2/-4.1pct/+1.38pct/-2.46pct 12.72%/8.06%/21.4%23H1/-2.16pct/+2.4pct/+0.78pct 13.26%/8.23%/21.04%12-3.62pct 23Q2/-6.6pct/+2.49pct/-3.42pct 11.42%/9.64%/20.48%23H1/+1.04pct/-0.61pct/+0.62pct 7.9%/14.29%/22.77%23Q2/+0.65pct/-1.91pct/-0.87pct 8.17%/13.15%/21.89%23H1/-0.13pct/+0.31pct/+0.36pct 15.42%/5.15%/20.31%23Q2/-1.91pct/+1.38pct/-1.52pct 14.81%/5.58%/20.11%23H1/-1.01pct/-0.29pct/-1.23pct 5.07%/7.6%/12.5%23Q2/-0.57pct/-0.5pct/-0.35pct 4.93%/8.12%/12.28%23H1/-0.04/+0.22pct/-0.1pct 14.18%/3.45%/13.71%23Q2/-1.44pct/+0.54pct/-1.37pct 14.18%/3.45%/13.71%6 2017 0%2%4%6%8%10%12%14%16%18%20%2017 2018 2019 2020 2021 2022 2023H1 Wind 7 2017 0%2%4%6%8%10%12%2017 2018 2019 2020 2021 2022 2023H1 Wind 8 2017 0%5%10%15%20%25%30%35%2017 2018 2019 2020 2021 2022 2023H1 Wind 9 2017 0%5%10%15%20%25%30%35%40%2017 2018 2019 2020 2021 2022 2023H1 Wind 3 pct 23H1 23Q2 23Q1 23H1 23Q2 23Q1 5.39%5.57%5.23%0.30 0.89-0.20 8.49%8.40%8.58%0.34 0.90-0.22 12.53%13.48%11.70%-1.75-0.08-3.36 6.50%6.73%6.30%0.41 1.02-0.14 13 14.18%16.24%12.41%0.31 0.68 0.34 13.26%11.42%14.84%-2.16-6.60 1.83 7.90%8.17%7.61%1.04 0.65 1.39 15.42%14.81%16.10%-0.13-1.91 1.88 13.84%12.72%14.91%-1.09-4.10 1.90 5.07%4.93%5.21%-1.01-0.57-1.46 14.18%9.35%17.84%-0.04-1.44-0.02 7.51%7.35%7.66%-0.03 0.05-0.11 Wind 4 pct 23H1 23Q2 23Q1 23H1 23Q2 23Q1 4.55%4.72%4.40%0.19-0.14 0.48 9.74%9.86%9.62%1.13 0.60 1.66 6.57%6.54%6.59%0.48 0.24 0.74 5.53%5.71%5.37%0.42 0.05 0.75 8.04%8.14%7.96%-0.14 0.88-1.21 8.23%9.64%7.02%2.40 2.49 2.42 14.29%13.15%15.46%-0.61-1.91 0.72 5.15%5.58%4.69%0.31 0.66-0.08 7.32%8.06%6.60%1.30 1.38 1.26 7.60%8.12%7.10%-0.29-0.50-0.07 3.45%3.69%3.27%0.22 0.54-0.04 6.18%6.53%5.86%0.36 0.19 0.54 Wind 5 pct 23H1 23Q2 23Q1 23H1 23Q2 23Q1 7.81%7.51%8.07%0.73 1.35 0.18 18.13%18.13%18.13%1.39 1.34 1.43 18.18%18.25%18.13%-1.88-1.23-2.59 10.33%10.18%10.47%1.00 1.45 0.58 22.15%24.27%20.33%-0.06 1.35-1.13 14 21.04%20.48%21.52%0.78-3.42 4.64 22.77%21.89%23.67%0.62-0.87 2.11 20.31%20.11%20.53%-0.18-1.52 1.34 20.84%20.40%21.26%0.36-2.46 3.20 12.50%12.28%12.70%-1.23-0.35-2.13 13.71%9.01%17.28%-0.10-1.37-0.19 12.43%12.17%12.67%0.48 0.67 0.29 Wind 6 23H1 pct 1.15%-0.25 1.62%0.00 5.12%-1.00 7.12%-0.78 5.02%-3.39 1.77%0.83 10.66%6.62 1.54%-0.34 7.87%-0.61 2023+23Q2 23H1-6.96pct 12.29%Q2-14.32pct 4.79%/23H1-11.11pct/+0.03pct/+2.1pct/-1pct/-1.12pct 11.14%/10.84%/14.63%/9.96%/35.19%Q2-23.1pct/+1.33pct/+2.44pct/-2.08pct/-4.94pct-1.26%/9.62%/13.69%/9.54%/36.26%23H1-1.2pct 23.88%23Q2-1.67pct 23.07%23H1-66.17pct-54.36%23Q2-135.53pct-123.68%23H1 5.05pct 16.76%23Q2+3.69pct 15.64%23H1+0.03pct 10.84%23Q2 15+1.33pct 9.62%23H1+0.89pct 14.58%23Q2+0.83pct 12.06%23H1-3pct 14.63%23Q2-1.11pct 15.88%23H1+4.52pct 14.71%23Q2+4.76pct 15.21%23H1-1pct 9.96%23Q2-2.08pct 9.54%23H1-1.12pct 35.19%23Q2-4.94pct 36.26%10 2017 0%5%10%15%20%25%30%35%40%2017 2018 2019 2020 2021 2022 2023H1 Wind 7 pct 23H1 23Q2 23Q1 23H1 23Q2 23Q1 23.88%23.07%24.57%-1.20-1.67-0.79-54.36%-123.68%10.95%-66.17-135.53-0.81 16.76%15.64%17.74%5.05 3.69 6.28 11.14%-1.26%21.93%-11.11-23.10-0.67 10.84%9.62%11.89%0.03 1.33-1.61 14.58%12.06%16.74%0.89 0.83 0.78 14.63%15.88%13.33%-3.00-1.11-4.88 14.71%15.21%14.15%4.52 4.76 4.28 14.63%13.69%15.54%2.10 2.44 1.72 9.96%9.54%10.38%-1.00-2.08 0.07 35.19%36.26%34.38%-1.12-4.94 3.27 12.29%4.79%19.01%-6.96-14.32-0.37 Wind 16 23Q2 23H1 39.24+39.48%Q2 24.38-37.13%23H1 310.59+6.59%Q2 149.62-5.56%8 23H1 23Q2 23Q1 23H1 23Q2 23Q1 23H1 23Q2 23Q1 23H1 23Q2 23Q1 25.87 15.24 10.63 107.49%-34.57%-198.26%135.93 64.74 71.19 2.17%-13.84%22.94%4.60 2.65 1.95 3.94%-42.57%-1143.37%28.86 14.22 14.65-4.93%-14.28%6.33%1.34 1.31 0.03-47.85%-25.04%-96.27%16.19 7.84 8.35 43.99%37.49%50.68%31.81 19.20 12.62 63.44%-35.25%-223.86%180.99 86.80 94.19 3.63%-10.91%21.97%1.27 0.72 0.55-4.18%-58.80%-230.19%11.96 6.04 5.92 3.71%-9.21%21.33%1.64 0.44 1.20-39.28%-61.17%-23.41%15.51 7.56 7.95 9.13%5.33%13.00%0.22 0.09 0.13-36.85%-37.61%-36.29%1.80 0.87 0.94 8.89%18.09%1.58%1.09 0.49 0.60-28.72%-62.79%185.81%12.59 6.06 6.53 21.48%13.05%30.49%2.95 1.02 1.92-35.57%-60.65%-2.51%29.90 14.48 15.42 13.99%9.15%18.95%3.06 1.80 1.26-216.49%260.39%-140.35%73.64 35.60 38.04 17.55%9.92%25.71%0.15 1.64-1.49-97.29%-61.68%-232.97%14.11 6.71 7.40-13.66%-22.87%-3.18%39.24 24.38 14.86 39.48%-37.13%-239.68%310.59 149.62 160.97 6.59%-5.56%21.06%Wind 9 EPS/PE PB 2022 2023E 2024E 2022 2023E 2024E 2022 2023E 2024E 603288.SH 38.67 2150.28 1.34 1.14 1.31 28.86 33.90 29.47 15.76 7.06 6.11 600872.SH 34.54 271.27-0.77 0.31 1.04-44.96 110.14 33.11 7.56 8.34 7.00 603027.SH 16.96 174.32 0.36 0.50 0.64 47.27 34.08 26.65 9.67 5.32 4.58 0.31 0.65 1.00 10.39 59.37 29.74 11.00 6.91 5.89 600305.SH 10.45 116.30 0.14 0.18 0.23 75.18 59.61 45.91 5.69 4.41 4.19 603317.SH 13.44 143.21 0.45 0.40 0.51 29.55 33.33 26.38 5.51 3.18 2.92 603755.SH 30.72 30.29 0.52 0.76 1.05 59.08 40.59 29.35 6.01 4.08 3.65 603170.SH 19.98 79.92 0.57 0.73 0.87 35.05 27.35 22.90 17.37 5.82 4.78 0.51 0.63 0.81 41.23 33.76 26.21 9.63 4.36 3.78 600298.SH 34.66 301.14 1.57 1.69 2.02 22.08 20.53 17.12 5.73 2.86 2.52 002507.SZ 15.97 184.28 1.01 0.80 0.92 15.81 19.94 17.43 3.19 2.18 1.99 0.58 0.72 0.95 29.77 42.16 27.59 8.50 4.81 4.19 Wind 2023 9 20 Wind 17 2.23H1 23H1 23 23H1/+2.84%/+5.04%965.84/73.91 23Q2+5.09%/+2.71%430.17/11.71 23H1+0.37pct 30.60%Q2+0.32pct 30.24%23H1/+0.12pct/+0.10pct/+0.11pct/-0.14pct 16.74%/3.96%/0.09%/21.35%23Q2-0.42pct/-0.37pct/+0.09pct/-0.13pct 17.10%/3.83%/0.05%/21.59%23H1/23Q2-0.43pct/+0.03pct 5.77%/2.72%11 2017-75%-50%-25%0%25%02004006008001000120014001600180020002017 2018 2019 2020 2021 2022 2023H1 yoy Wind 12 2017-50%-25%0%25%50%020004000600080001000012000 yoy Wind 23H1 23Q2+2.84%+5.09%23H1 23Q2/+4.31%/+1.80%/-20.35%/-1.72%+7.71%/+1.36%/-20.47%/+3.04%23H1 23Q2+4.31%+1.05%23H1 23Q2/-1.09%/+12.01%/+25.54%-0.52%/-8.94%/+19.22%23H1 23Q2-1.88%-1.34%23H1 23Q2/+3.11%/-5.10%/-27.21%+5.35%/-9.80%/-23.55%22 23-9.8%23H1 23Q2+10.84%8.84%23H1/+12.31%/+17.70%/-3.54%23H1 23Q2+12.62%16.26%23H1 23Q2/+20.43%/+4.96%/-7.16%/-34.49%+18.64%/+4.96%/-53.24%/-42.37%23H1 23Q2+7.14%10.89%23H1 18/+6.43%/+5.49%/+12.74%/-60.21%23H1 23Q2-0.15%+0.55%23H1/+5.98%/+15.68%/+14.10%23H1 23Q2-20.35%-20.47%23H1 23Q2/-19.45%/+38.38%/-55.24%-16.64%/+32.25%/-61.34%23H1 23Q2-1.72%+3.04%23H1/-0.80%/+170.29%/-12.85%10 23H1 23Q2 23Q1 23H1 23Q2 23Q1 661.97 327.57 334.41 4.31%1.05%7.71%661.97 327.57 334.41 4.31%1.05%7.71%661.97 327.57 334.41 4.31%1.05%7.71%260.45 132.25 128.20 1.80%2.23%1.36%141.39 70.68 70.71-1.88%-1.34%-2.42%52.98 27.77 25.21 10.84%12.72%8.84%13.89 7.58 6.31 12.62%9.77%16.26%9.63 5.34 4.29 7.14%4.30%10.89%42.56 20.88 21.68-0.15%-0.86%0.55%260.45 132.25 128.20 1.80%2.23%1.36%20.66 10.43 10.23-20.35%-20.24%-20.47%20.66 10.43 10.23-20.35%-20.24%-20.47%20.66 10.43 10.23-20.35%-20.24%-20.47%13.76 6.59 7.17-1.72%-6.42%3.04%13.76 6.59 7.17-1.72%-6.42%3.04%13.76 6.59 7.17-1.72%-6.42%3.04%956.84 476.83 480.01 2.84%0.67%5.09%Wind 23H1-0.04pct 30.60%Q2+0.32pct 30.24%/23H1-0.37pct/+1.02pct/-3.32pct/-0.05pct 33.37%/22.68%/33.0%/43.79%Q2-0.07pct/+1.53pct/-0.55pct/+1.56pct 32.73%/23.11%/33.31%/44.37%23H1-0.04pct 33.37%23Q2-0.07pct 32.73%23H1+1.01pct 20.12%23Q2+1.86pct 20.28%23H1+2.84pct 27.97%23Q2+2.60pct 28.80%23H1+2.42pct 20.55%23Q2+2.11pct 20.97%23H1+3.08pct 27.28%23Q2+4.95pct 28.78%23H1-2.60pct 24.25%23Q2-2.80pct 24.41%19 23H1-3.32pct 33.0%23H1-0.05pct 43.79%23Q2+1.56pct 44.37%13 2017 0%10%20%30%40%50%60%70%2017 2018 2019 2020 2021 2022 2023H1 Wind 14-25%-15%-5%5%15%25%012345/kg YoY Wind 15-60%-40%-20%0%20%40%60%80%01020304050/100kg YoY Wind 20 11(pct)23H1 23Q2 23Q1 23H1 23Q2 23Q1 33.37%32.73%34.00%-0.37-0.07-0.73 33.37%32.73%34.00%-0.37-0.07-0.73 33.37%32.73%34.00%-0.37-0.07-0.73 33.37%32.73%34.00%1.02 1.53 0.50 20.12%20.28%19.96%1.01 1.86 0.18 27.97%28.80%27.06%2.84 2.60 3.06 20.55%20.97%20.05%2.42 2.11 2.84 27.28%28.78%25.41%3.08 4.95 0.73 24.25%24.41%24.09%-2.60-2.80-2.41 22.68%23.11%22.24%1.02 1.53 0.50 33.00%33.31%32.69%-3.32-0.55-6.13 33.00%33.31%32.69%-3.32-0.55-6.13 33.00%33.31%32.69%-3.32-0.55-6.13 43.79%44.37%43.27%-0.05 1.56-1.62 43.79%44.37%43.27%-0.05 1.56-1.62 43.79%44.37%43.27%-0.05 1.56-1.62 30.60%30.24%30.97%-0.04 0.32-0.43 Wind 23H1 23H1/-0.42pct/+0.10pct/-0.14pct 16.74%/3.96%/21.35%23Q2+0.12pct/-0.37pct/-0.13pct 17.10%/3.83%/21.59%23H1/-0.79pct/+0.16pct/-0.45pct 17.55%/4.01%/21.85%1.25pct 10.64%23Q2/-0.48pct/-0.54pct/-0.89pct 18.04%/3.83%/22.20%23H1/-0.02pct/+0.65pct/+0.95pct 12.16%/3.37%/16.58%4.56pct 6.05%23Q2/+1.51pct/+0.71pct/+2.55pct 12.55%/3.51%/17.17%23H1/+1.33pct/-0.86pct/+0.61pct 15.66%/4.34%/21.96%-3.71pct 16.15%23Q2/+1.74pct/-0.88pct/+0.92pct 15.82%/4.26%/21.94%23H1/-0.20pct/+0.08pct/+1.07pct 5.36%/3.02%/9.67%-0.39pct 6.05%23Q2/+0.13pct/+0.41pct/+1.68pct 5.18%/3.05%/9.39%23H1/-0.25pct/+0.38pct/+0.24pct 9.77%/4.45%/15.26%-0.31pct 5.28%23Q2/+0.43pct/+0.51pct/+1.10pct 9.35%/4.13%/14.40%23H1/+0.86pct/-0.87pct/-0.80pct 17.52%/3.49%/23.40%+0.41pct 4.92%23Q2/+1.17pct/-1.00pct/-0.84pct 16.60%/3.18%/22.03%23H1/+2.26pct/-0.77pct/+3.49pct 25.65%/5.71%/32.80%-0.02pct 16.26%23Q2/21+5.04pct/-0.55pct/+6.53pct 27.02%/5.70%/34.56%23H1/-0.08pct/-0.23pct/-1.58pct 29.62%/5.83%/36.75%-1.26pct 2.54%23Q2/+1.23pct/-0.16pct/-3.10pct 30.64%/5.0%/35.33%16 2017 00.10.20.30.40.50.62017 2018 2019 2020 2021 2022 2023H1 Wind 17 2017 00.010.020.030.040.050.060.070.080.092017 2018 2019 2020 2021 2022 2023H1 Wind 18 2017 00.10.20.30.40.50.60.70.82017 2018 2019 2020 2021 2022 2023H1 Wind 22 12 pct 23H1 23Q2 23Q1 23H1 23Q2 23Q1 17.55%18.04%17.07%-0.79-0.48-1.08 17.55%18.04%17.07%-0.7

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