Beiersdorf Aktiengesellschaft (XTRA:BEI) is looking for M&A. Vincent Warnery, CEO & Chairman of the Executive Board, "Number one is M&A. We are working on M&A. Number two is obviously to have a better capital allocation. So we are looking at everything possible. We have very good conversations with the shareholder.

As you said rightly, this will be something we'll discuss at the end of the year".