Good morning, ladies and gentlemen. I would like to welcome you at today's conference on two topics. The first topic is the results for the first quarter of 2025, and the second topic relates to yesterday's publication, namely the presentation of the assumptions of the strategy for 2025 to 2029. We will present this in a limited number of speakers. There will be three persons presenting: CEO Dariusz Mańko, Roman Przybylski, Vice President, and Rafał Warpechowski, member of the Management Board and the Financial Director. The Management Board is in full composition and is ready to answer your questions in the Q&A session after the presentation. We have also with us Rafał Lechowicz, who manages the segment of flexible packaging. We are strong and ready for answering the questions. I think that we can start. Dariusz Mańko, the CEO, will start.
I would like to welcome you. Thank you very much to all the people who arrived here in Warsaw. I also can talk to you after the conference because this is my last conference. I could have also the talks with you after the formal part of today's conference. I will make this presentation in two blocks or in three blocks. The first is the first quarter of 2025, and then the summary of the strategy, which was binding. The next information is the strategy for the coming years. I will start from the first quarter of 2025 regarding the current situation. The first quarter, as for the performance of Grupa was very good despite a lot of worries because it was difficult to realize the year 2024. It was difficult to enter 2025.
You remember from the last conference, we were talking about a very fare price war about the lack of orders, but this demand was quite weak. Of course, we put a lot of effort in this extruded product segment. This is a very important segment for us. This is the barometer for us of what can happen. This segment performed very well. It was 9,500 tons in March. This is a very important signal for us that we are in a position to give work to this segment, that we can keep the production rhythm. This is very important in a sense of the technological regime. I am talking about this as a barometer because those aluminum systems, they go to different sectors of the economy.
Finding ourselves in this difficult segment of the extruded product, first of all, we performed our tasks in our budget in terms of the volume of production. At the same time, it allows us to dilute the fixed costs and also to reach the given profit on a bid level. This is a very important indicator. It has been even for 20 years the most important indicator and a very important information of first quarter, how we will start and what will be the load on the pressing machines. If this is 7,000 tons, this will be a big problem afterwards. This fight for reaching the budget over the three quarters could be we could fail in this. As for the other segments, they were also traditionally well-performing. ASS presented very good results for the first quarter.
The managers for these segments, they are coping well with the market and also very well in the purchasing area. This mix gives us good EBITDA, which is a very satisfying result above our budgetary assumptions in the first quarter of this year. The statistical data show that the economy is doing better. We can't see that. This is rather more from our work that we have done earlier and also in this quarter, and not that the market in itself somehow is dynamically growing. We are not feeling that. If it will happen, if it will be like this in the second quarter, for sure we can expect even better results for Grupa because also we can fight for better margins for the group.
As for the financial results, I would like the Financial Director to present shortly the results of the first quarter.
Thank you very much. I would like to be short in my presentation of the first quarter above the budgetary assumptions on the level of the focus that we showed you. The consolidated revenues, they are increasing by around PLN 100 million. This is the signal that half of this growth is the effect of including into the consolidation of Zelt Company. That is why they are better with the growing revenues as compared with last year from the operating activities on the same level. The financial costs are higher as compared to what we can expect because at the end of the year, as you remember, in the fourth quarter, our debt increased because of acquiring Zelt.
Also, the comparable data, that was the very low level of credits. The other element that speaks for the exceptional nature, this is a deferred tax. We were finalizing the investments in EPS and in AAS. We have PLN 20 million of deferred tax, and these tax liabilities are coming back to normal. That is why the profit is a bit lower as compared to the previous year, despite the fact that, operationally speaking, the levels on the EBITDA level are even better. Shortly about the segments, we are very happy, and this is what was mentioned, very strong position of EPS in terms of volumes. We have 80% full capacity after the extension of the segment that was completed last year.
We are in a position with this capacity to generate robust results despite the fact, maybe a little bit worse than last year, that the situation, as you know, is still under pressure. This segment sells 7% more of volume, speaks for our efficiency, operational, commercial, and production skills. Of course, we are using this energy in the scale of the growth that we have talked about. It means the lengthening of the value chain. This is the integration with ASS and FPS. Within the group, the growth is utilized in these two segments. Thanks to this, the total margin stays within the group. As for the structure, the construction is better than last year because these internal streams are directed to ASS, are classified to this category.
Foreign sales, as we know, this environment is very demanding, and the Polish zloty is getting stronger. A drop of export. The two segments that we have only positive trends. It means ASS in terms of volume and higher levels of margin, and then the improvement of the results. Here we included into the consolidation this aluminum system. This is the sun protection systems, PLN 20 million sales in the first quarter. As you know, this company is characterized by seasonality. The quarter four and the first are these quarters with the lower possibilities, but it is still several million zloty added. The flexible packaging segment, we can say that stable sale on a difficult market because this market for many years is very demanding. This segment stabilizes our profits, our results, and also stabilizes our cash flow.
That is why the flexible packaging faced a lot of challenges, but the robust results, improvement on a year-to-year basis, 8%. We are very happy about it. The investments, the level at the beginning of the year, a few percent advancement, but we are entering into this cycle. As for the investment projects, starting the projects, we can't see now any delays. PLN 330 million planned for this year. As of today, we are happy that we will reach our targets in investments and depth in the quarter. Good result, low investments still. The company reduced the PLN 150 million because of the good bid now mainly, and also without the considerable impact of the working capital on the operating activities.
The same is with the credits, lower share of EUR credits, but still we are trying to be able to do the 20-25% to keep it within this bracket. This is our half-yearly economic exposure so that we, this is naturally secured. Towards our summary, the second quarter is full of challenges, but this is the situation that we have been talking about for many quarters. We think that we can cope with it. For sure, today's day is this day that we can communicate that we will focus on the implementation of operationalization of a new strategy and integration with Zelt. As for finances, I would say that we recommended yesterday's Supervisory Board opinionated positively recommendations of the Management Board. They would like to pay out 85% of the consolidated profit as dividends.
It should be about 6-7% dividend yield this year. We assume that this quarter is well developed on the level that is a little bit higher than we expected in the budget. Thank you very much .
Thank you very much. We will now move to part two of our presentation. This is only after this part that you'll be able to ask questions. We will ask questions that will be sent by persons following our discussion. The assumptions of the strategy for 2025 to 2029. There was yesterday's communication that presented the assumptions. At present, they will be commented on. Again, Ms. CEO will start again. Ladies and gentlemen, tears come to my eyes. I am closing the fourth strategy that I presented, implemented in the Kety Group strategy from 2024. We are closing it. We have 2025 now.
You can see what the situation is. Success is everywhere, in both net profit and revenues. I am extremely happy that the foreign services growth. We had this ambition, and we promised ourselves that we will get 50% in the particular sectors. The flexible packaging was very pushing for sales growth in this area. This was the most important indicator for us internally because it was expected to answer a question whether Grupa Kęty has such good products and can manage these products so well in logistic and sales terms that they will find appreciation in the eyes of demanding Western European customers and those global consumers. We got the answer because foreign sales at the PLN 0.55 billion level, all the products that come from Grupa Kęty are high-quality products. They are products that Western consumers are very willing to buy.
This is the greatest success. It responded to the most important questions where we can think about that we can hope for Grupa Kęty to become a European player with large capital letters, a player that competes with Hydro Aluminium, Sapa, the largest competitors that we have now on the market. The foundation has been built, as I said, in all the areas of our activities. As a result, it gave to you, persons who represent the funds, the shareholders, very good increase in the capital engaged in all the shares of Grupa Kęty. It's hard work, and we have nothing to be ashamed of. As a result of this work, we have PLN 6 billion as a result. I would like to thank all the employees because it's also their efforts.
We have managed over the years to build a very competent team at all the levels, the highest levels too, of directors down to the lowest level, the persons that worked in the production or packaging unit. Everyone knew what we were doing, and everybody was important in this action. I can thank ladies and gentlemen, both to you, because you criticized when it was necessary, and you appreciated our work when it was due. It was very important for me as the CEO of the company to have this feedback from the market to find out if we were on the right track. Thank you very much to the supervisory board of all the terms that stayed with me all the time as the CEO of Grupa Kęty. At all times, I treated this company as my own.
I guess we all did, all the members of the management board who worked so much time all these years, we treated it as our own. All this PLN was spent well to implement the strategy in a way that was impeccable. Without it, we would not have been able to achieve such results. We would not be able to achieve such capitalization at the end of the strategy implementation. We did a lot of good work by technologists, by persons who take care of production. We must be clear, we have grown organically over the years, over the period of the last strategy. This organic growth gave us very strong foundations to attack Europe. The time has come where Kety is ready in all possible terms in terms of technology, people, production, to think about its position as a large player in Europe.
Of course, the answer would be, what then? The question would be, what then? We need to engage over next years. We need to have a vision and see this development with our imagination, how this company would look like in a matter of years. I have no problems with having this vision. I've never had. Every five years, I presented the strategy to you and implemented it. It is very important for me. Many managers say there's no need to have a strategy because something may happen. It has happened. There was a crisis, COVID, and a war. Many things are happening. Still, this road sign, this direction, it doesn't change. It is always the same. There are some fluctuations over the implementation of five years of the implementation of strategy.
In fact, the direction of the strategy, the vision should never change. It has never changed. I can say today that we have packaging on the shelves all over Europe. We have buildings in Europe that are standing in Europe. We have profiles that have been installed in the best cars possible that are produced in Europe. We can say that we have reached the peak, but it is never the end of the road. What remains is to build the company with international status, a company that would operate in Europe, Western Europe, in the same way it will have its position in Western Europe. The question arises, what to do? We need to do a lot.
We need to reorganize the group to make large efforts so that on this foundation that we managed to build over the last 20 years, we will be able to be in Europe. I came to the conclusion that this is not a task for me because we need to be because this would mean 10 years of work. We do not need to be a hypocrite that I was saying I will work from dawn to night. That is the way it should be if I want to involve all the people that are working with me now and also new people that will be moving very well, navigate very well in Europe and to be an example. I would need to lead this army that is trying to win the European markets. The answer is, I do not have enough strength because of my age.
I can only say that I would weaken this march of Kęty towards Europe. We've managed, fortunately, to gain very good manager, Mr. Przybylski, who will take over from me. From the 28th of May, he will be the CEO. He is young enough, intelligent, and determined, well educated. I believe that after working together for 18 months now, we are clear that we have a common position on the vision on how Kęty should look like. I've always said that design is an AluProf. We will live to see to take our grandchildren to go and see some skyscrapers in Europe and in the United States that will be built with Polish technical thought. With his grandfather, this is his father who was a designer in AluProf, has conceived this façade. I have worked out these contracts.
We will have a huge satisfaction there so that we can boast of such achievements, which few companies in Poland can speak with such satisfaction that they are present in Europe and globally. I had this vision to lead me, and I have implemented this vision. I am satisfied. The vision that CEO Przybylski will present shortly, I believe, will be a common vision to enable us to see Kety in 10 years. I want to talk about the presentation before it is shown. When you ask in 10 years about our company in Germany in 10 years, they will know us in this sector. If you ask about us in France, they will know us. There are possibilities. There are great products in place.
It is a marvelous task and ambitious task for the group of managers that will implement the strategy for the next years. I can only say thank you and to be grateful that I was able to work in such a group with such a good company. For all the employees, I do not want to miss anyone. Also, the supervisory board and the owners and you that helped us. With all my heart, I wish you all the best. I will support you as much as I can, advising the management board possibly to ensure that the strategy that the CEO will present today will be implemented so that we can proudly say that this is yet another strategy that has been implemented by the Group of Kęty that has brought such clear benefits for shareholders.
Finally, I would like to say that I would like to see the pension funds invest all the resources that they have. All the pensioners that will be using this, if these funds had used all the investment money in Kęty, all the pensioners will be much wealthier. I would like this strategy to be as clear as possible because this will provide a link between you and the new strategy, and I keep my fingers crossed for the strategy, for the people that will implement it. I'm at your disposal. I can talk to you after the conference is over. Thank you very much. We would like you to present the assumptions, details of the strategy. I would like to ask Mr. CEO Przybylski, Roman Przybylski.
Thank you very much to the CEO for this introduction and warm words.
As the President has said, the strategy that we show you is an effect of our joint work, a vision that has been there and has been worked out and specified. This was really a vision that had to be done, that really was clear from our conversation between the CEO and the management board. It represented some vision of development, but it's no revolution. The next step is self, it's not really self-evident, but it's a natural development based on this huge foundation that has been built over the years. Also, the bar has been set very high by the existing management board with a capitalization of PLN 8 billion. It's a very ambitious starting point, but this starting point for the next stage is imposed by. It has to be more ambitious. That's the idea.
We need to know where we want to build further. We need to grow further. Together, we have a clear specified vision. Out of these elements that the CEO mentioned, I can confirm one, which is determination to do it, to absolute determination and consistency to do this strategy, which is to build a European, powerful, recognizable, and important player in its sector. Going from top Polish league, where we are already now, we want to move the first league in Europe. We want the Group of Kęty as a whole body to really be one of the leading players in aluminum processing and particularly in the construction sector, broadly understood. It is a deliberate decision because we know where the aluminum profiles are consumed, where we can have this growth.
Also based on our reflection, where we are, in which segments or sectors of the market we have the huge development, where we are the strongest, where we have the way we can develop what we have been building over the years based on the current approaches of the segments. Extending the value chain vertically and horizontally using the synergy and based on the economic growth in the housing sector, these will be the consequences.
This is defined, and this is what defines our core business. We are also not forgetting about our second leg. It means this is aluminum group and the one powerful leg and the other leg, which is the flexible packaging segment.
This is, strategically speaking, a very good diversification tool because, as you know, we have the roller coaster of the economy and one decision causes the stock exchange to go up and down. We have these two parts. We are more resistant to it in aluminum and construction business. We are more dependent. As for the flexible packaging segment, we have diversification in terms of consumption. These two legs fit into our strategy and we would like to invest in. As for the flexible packaging, we are defining whether this is connected with the foil BOPP, which has the biggest potential. This relates to the big trends. They are widely discussed. This is, first of all, ecology, recycling, which actually imposes on the sector the use of the monocultures, the materials that could be recyclable. This indicates the foil.
Therefore, we took a decision and we decided we'll invest in the next production line for the production of foil, of film, so that the values and the recognition of the segment we are reinforcing and in parallel to the reinforcing of the aluminum group. Speaking about this, here we mark that we are not excluding this investment from the packaging segment, but only in this situation when we assume that we have the situation which will create a big value for the shareholders because of this move. In practice, it can mean that we can grow as much as the growth through the acquisition projects, and then the replacement of one asset with the big valuation makes sense. We could have such a scenario or maybe we will just run this business in the long perspective, we as a group.
Now the most important elements of this strategy and this evolution that the aluminum group has. They are included in a couple of elements which are the natural continuation of our strategy and also the reflection of what we could do to grow further. The first reflection is that we as a group, we have a very strong export position because many products are exported and re-exported by our customers. Still, our shares in the foreign markets, especially in big economies of the European Union, are still small. If we would like to grow, we have to do it abroad and it must be on the markets of the rich markets. Maybe we can also use kind of a crisis on the market for us. It means that we shouldn't waste on crisis. Always we can use it.
It has to be abroad. In order to have these large-scale operations abroad, we have to do it in a more integrated way. We believe that one group, as one strong aluminum group, we can join our efforts and also our competencies built over years and the technological backup. Not as we are doing now by one or three segments acting as independent companies with independent structures on different brands. The stronger integration within the group, within one business, will result in that many functions we can leverage. It means that extending our value chain. We have influence on the quality of the production and also where we should invest and where we should create the competencies which are difficult to build because how to manage the operations abroad.
We can do it more effectively as one company, as one group, as one strong entity. This integration of the aluminum group is the first point. The second point is that we would like to put in one hand, in one structure, the management of the foreign businesses for these reasons. Today, each segment has the independent companies and manages them independently. Today, we would like to have the situation when the companies are the group companies. Then the company will represent the group, will sell different segment products, and there will be one unit managing this. This is AluProf International. This is what it was called. The next step that we are talking about, we talk about the brand AluProf because this is this brand that is more recognizable.
This is in the business world, this brand, not only in Poland, but also has this international recognition and this strength. We would like to leverage this strength also to other segments. We are talking here about the rebranding, where as a group, we can promote one brand, AluProf brand. It means AluProf, of course. This could be with the dedicated sub-brands. We talked about AluProf, Extrusion AluProf, Sun Protection, but about one strong brand, we have to talk so that each spend PLN or EUR will reinforce this brand between the segments and between the countries so that we are this big, powerful international player because this is our vision. This growth on the European markets, we would like to gain in different ways. This is also an important pillar of the strategy for the coming five years.
Through organically speaking, and also we take into account active running of acquisition projects. Both these ways are very important. I would like to emphasize here this organic growth element because we do not want to escape into acquisition as some companies do. We believe that each of our businesses could have the robust foundations, robust structures, and has to have the ability of organically growing. This is our assumption. It means that each of the segments that we will treat as the units could be on its market, grow healthy. I will not read the figures, but this organic growth for each of the segments is assumed ahead of the market. On the top to the organic growth, we would like also to be active in acquisitions.
We can do this because we have funds and also we are invested in a sense of the production capacity. We have EPS and the production possibilities to be used. As of ASS or SPS, buying the company's side last year also increased our production capacity. This was largely extended. We have to fill it in. We have to scale up. From this capital-intensive growth in Poland, except for the third line for SPS, we would like to deliver the financial possibilities to growth requisitions. We would like to plan it. We would like to carry out acquisitions which comply with our vision. It could be both acquisitions in Poland of the production companies which could create this production capacity. It means that they fit into the extension of the value chain, but also they will fit into the building of the AluProf brand.
They will be around this construction spectrum where we have the role of architects, consultants, and the recognition of this brand matters. The second growth, which is key from the point of view of the to be on the foreign markets, is the foreign acquisitions. We are looking for them. We will be looking for the acquisitions that will fit into our two basic market segments. It means ASS and SPS. We will look for the companies which will give us big market share and build our relations with the customers. Maybe products that are recognizable in these countries. This will be the necessary element, but our goal is to utilize and harness the production capacity in Poland and abroad to build distribution.
We will be extending this distribution organically within AluProf International based on the dependent companies, first of all, that we have today in ASS and EPS. The acquisitions are a very active accelerator of this process. It means the organic development is very tedious. It is very beginning at the beginning because the base is low. It is very difficult to build the logistic backup. The acquisition speeds up the entire process. The acquisition is not about buying the company, but about the integrating of this company and managing this company, which is more difficult than managing the business in Poland because it is more expensive. The culture are also issues. In order to do these acquisitions, we have to be ready for that.
Coming back to our elements of the change, therefore this integration of the aluminum business within this one virtual or the targeted undertaking so that these companies could be leveraged and to build as one strong entity and to go into this direction. The rebuilding, remodeling of the group, both structurally and rebranding will take a while. Therefore, in the first years of the strategy, we would like to be more opportunistic in these acquisitions. We are analyzing the interesting companies, but we would like to decide when we are sure about the acquisitions and that we can manage these companies and integrate them into our group without any further risks at this stage that we are. In a moment, in two years' time, we will be ready for a big step. It means that we would like to be very active on the market.
We are searching for very important companies that fit into our concept that will allow us to develop our business and grow our business. This will be very active action in the coming period of the strategy. We would like to concentrate on the Western countries.
On the West European country, we're still looking at the United States, but we take into account the current volatility. The U.S. market is very attractive because it's independent in terms of energy, demography, size. We will certainly be looking constantly at the United States or perhaps other non-European markets. Perhaps they may come and establish a joint venture with local partners because we are aware of the strengths that we have and we'll certainly be able to we will be looking for supplementing them with the strengths of the local companies.
These are the solutions that we consider very seriously as a strategy element. Of course, there is ESG, despite these changes, variability, and some trends for correcting it. We believe this is our duty because of taking care of environment and social issues and also corporate governance. I will not read these small letters, but it simply means the extension of the implementation of the efforts that we've been carrying out on the previous strategy. It also means raising the bar higher, and we are setting even more ambitious goals in this respect for us. We will consistently follow this road. Another element, which is a sort of a summary of the strategy in business terms and a bridge to the financial part, this is the dividend issue. We are a dividend-issuing company, and we intend to stay this way.
We can afford it using the money that we have. We want to invest in acquisitions, but at the same time, we want to maintain the existing dividend policy and share 85% of the net profit we generate with you. It is on the basis of the planned organic growth. Over the duration of the strategy, we should share PLN 2.6 billion with you. Before I give the floor to the Financial Director, this projection of the financial results that we presented as part of the presentation of the strategy and will be presented by the Financial Director is a projection based on organic assumptions. Faster in all the segments than the market does, and also the projected growth of the company over these five years. In addition, we want to add the acquisitions to this.
As a result of this nature, it's difficult to forecast the amounts and the date because you have this assumption of the financial growth, and also you have this projection of the projections. Now we'd like to ask the Financial Director to continue. Indeed, the financial goals of the organic growth are very ambitious. I would only say by way of introduction as regards the macro assumptions, several months ago, we hoped that the situation would become calmer, that we will have more stability on the market. We do not have it. In these turbulent times, the group accounting has managed to operate really well. As a result, we provide for 1.5% growth in the eurozone. We believe that the external environment will be favorable.
What Roman has just said will ensure in the medium term 2-3% growth on the market that we operate on. The prices of raw materials in all the segments, aluminum, petrochemicals, currency rate, have very important impacts on our operations. We assumed constant levels and that, for example, an average level in 2024. Because when we look at the financial results, you can be sure that the growth trends that we showed do not stem from the macroeconomic assumptions that we made, but from operational activities, those that increase volume, margin, efficiency. These are the assumptions that do not support directly the financial results of us.
The slide that I'm showing that shows to the greatest extent the level of ambitions in this organic scenario of growth, this consolidated sales will grow by 8.6% annually on the background of the market that will grow perhaps 2-3%. This means that in all our areas of activities, we want to double the market average. This is also a signal, also reflected in numbers, that we need to be more aggressive in exports. For example, the 10.5% annually, our export sales will grow abroad. Also, there will be a very significant growth in sales. This will affect the third production line of these sun protection systems. It will be very prospective investments that will certainly improve.
As I said, for the first quarter, we can see that both sales at home and abroad are growing uniformly because the extruded segment will provide a very good technological background to the dynamically growing ASS and the segment and others. Seven. This represents 50% more. Our results represent 50% more against the basis that is provided by 2024. Also, the sales come from carried out abroad. We are expecting very high increases. Also, the export will go from 50% to almost 55%. A number of words about the growth of EBITDA with respect to starting with the extruded segment, which is a litmus paper of the market environment. For a long time, it has been under pressure. It has felt very drastically the margin-related pressure of poor demand that has been sustained.
That is why this dynamic growth can be as much as 9% of EBITDA growth annually because for the brand sector, this is slightly lower. The present results show this difficult situation. We are counting on more dynamic rebound. It is different in the ASS segment. It is a natural combination of SSA and SOG. This is the segment that has never decreased its results over the last years. Its profits have been growing up all the time. It is at a very high level now. It has been supported by a very difficult situation in the extruded segment. It is a segment that is responsible for the largest part of the unit revenues. Its expansion will be much higher in money. That is why this growth will be greater. It has been also supported by the purchase of sales.
We expect some synergy effects and also double-digit growth with respect to the baseline. As regards the FPS, we do not expect too much growth because its growth has been saturated. It will simply mean the conclusion of a project that has been phased in, and we will be able to grow very dynamically over the last next few years. Our growth will be much greater. Also, after we have acquired sales, PLN 1.5 billion debt. That is why this interest cost on these loans will cause these costs to be slightly higher. Under deferred tax, the effective rate goes to the nominal one, although we will continue to invest in SPS by way of tax allowances. They will be recognized in 2028 when this project is completed. We want to spend PLN 1.7 billion over five years on investments, PLN 1 billion replacement, and partly monetization investments.
This is the largest item. It is for the extruded product, mostly dies. That is materials that we use in the production. Also, the Extruded Products segment will grow by a method of 30%. This will be growth that will be potential to the level of our operation activities. As regards development investments, they will focus in the strategy into stressed segments, partly in ASS. We are finishing the plant in Złotów, and we are increasing proportionally our capacity in varnishing, painting. The largest investment is in FPS. This is the third largest cutting-edge, most effective, and efficient production line being BOPP films that corresponds to the market trends. It will be located in Oświęcim, where the previous two lines are fully using the synergy effect. Originally, this third step was planned.
Now, when we look at these three years over the cash flow in terms of what we will generate, PLN 4.6 billion of cash flow for operating activities also includes increased demand for working capital by about 30-40% compared with the current situation in about PLN 400 million. PLN 1.7 billion investments, PLN 2.6 billion dividend that we intend to pay, PLN 2.6 billion that we intend to pay to shareholders. What is left is almost PLN 300 million, which gives us PLN 400 million debt, which will be PLN 1.6 billion altogether. As a result, we will be able to reduce the net debt. PLN 1.2 billion. PLN 1.2 billion.
These are very good parameters that show us that as compared with today, we will generate higher results, 50% more revenues, 45% more EBITDA. Then we reinforce the situation of financial strength.
Here we are showing in the scenario where Roman mentioned M&A is considered or the development through additional projects is considered very seriously. If we can estimate the safe level as for these transactions of net debt to EBITDA is 2, within the strategy, we will have around PLN 1 billion slotted. If we can increase this factor to 2.5, we will have PLN 1.7 billion. This illustrates that this is the amount that is comparable with the five-year investment plan. It shows that additionally, we can considerably strengthen our results of the capital group from this money and not causing any threats to the group's situation. In summary, I would like to say about two trends, the international recognizable technologically positioned group on European markets with the separate segments stabilizing the results for many years, positively influencing the group.
This is a completed investment in the area of BOPP film. It means fitting into the current trends in this segment. In this variant of the organic growth, as the previous strategy, we are thinking that we are in a position to guarantee the robust growth both as for the dividend, which on average could give 6%. The growth of the share prices, calculating it with the factors, if we can keep these financial ratios, we will deliver also the growth of the share price and of 7% profit on a share annually. The total return on shareholders on the basis of 13% annually, but in plus. This is this area that was mentioned. Non-optional, but rather equal with other pillars of the strategy resulting from this financial pool that we can save and use.
It means the effects of the other development projects and also transactions M&A. Thank you very much for your attention.
Thank you very much. Now we move to the questions regarding the first quarter and also the strategy itself. I will start maybe. Of course. There is only one question, so I would like to read this question. This refers to the first quarter. Of course, we may go ahead with the questions. The question is about the aluminum system segment and the current situation of the drop of the prices for aluminum when we know that the segment increased the prices recently. Now with the drop of the prices for aluminum, the market will expect the lowering of the price. Whether these moves can affect the factors of the aluminum system segment.
I would like to answer that this is the question from the competition. This is the internal policy of regulating prices for ASS. I think that we should not disclose it. We are not disclosing it, the decision whether there will be any corrections or not. The situation is very dynamic. Temporarily speaking, the aluminum over the last two weeks, the prices for it dropped. That does not mean that we will have the price of $3,000, but on the weekend. Maybe we will move to the questions from you. Is there anyone who wants to ask a question both regarding the quarter or maybe about the element of the strategy? I understand that there was a long presentation, one hour of presentation, and maybe you feel exhausted. I have a question about the strategy and this acquisition.
You emphasized the Western Europe and the United States. Can you tell us what you mean by the Western Europe? Which countries? It means that you exclude the acquisitions in the Eastern and Central Europe? No, we do not want to be more precise. We talk about the Western Europe because these are the biggest economies and the markets. Today, we do not want to make the declarations, whether it will be England, Spain, or any other countries. We are concentrating on the Western Europe, but we are not excluding the Central and Central Eastern Europe. This is more rather the direction and not the exclusion.
The question on CapEx. There is a big CapEx. Can you tell us what are these investments in ASS?
I do not know whether it is that big, but ASS, of course, this is now being optimized to be taken into account Zelt. ASS finishes the investments in Złotów as a reflective product, AluProfBees. Plus, proportionally to the scale of operations, there are such areas as the painting. These are the activities we would like to do ourselves, and they will be developed. This is the most variable segment, wide assortment segment. There are also very big investments there. Other small fragmentary, which over the scale of five years are adding to this amount. This is not the building of the isolated single production plant. I would like to say about this line for BOPP, what is the investment amount from the PLN 300 million and what would be the USUM in 2029?
I would like to say that when you observe the two first investments, the parameters of this investment are similar. This is a very economically effective investment. This investment also fits into this trend of the effects of the synergy and scale because this build includes the vicinity of the localized production flow, the infrastructure and so on. One line is, practically speaking, corresponds with the two existing lines taking into account the technological warehouse. Today, it is the most effective, and we can talk about such parameters as the other two. This line generates a lot of return of FPS, three-quarters to 80% growth. It will be commissioned in 2028, so 100% of effects in 2029, 60% of effects in 2028. As the previous two lines, this will be supported with the investment reliefs.
You know that we have this pillar to regulation. As of today, we are very conservative, and we know that everyone expects the change in regulations with this regard. The deferred tax in considerable amount will be recognized in 2028. What could this be amount? This is this amount that we show in the investment scenario. This is PLN 300 million that we show in FPS. About the current situation, because as you mentioned, we have an unstable macroeconomic situation. Could you please comment on that on the second quarter and whether this situation is translatable into your business and if you're seeing which segments? Is this only negative, or do you perceive also some positives of this instability, as I could say?
I would say that there is a growing tendency.
From January to today, we can say that this situation on the market is correct or even a little bit better than we expected. In all segments of the activities, we should reach good results also in the second quarter.
Thank you. Also, thank you very much to Mr.Przybylski because over so many years, I liked all your reports on Grupa Kęty. You were straight to the point. You had very good projections as to our budget, and we could read this. If we took your reports, we can say that you were so precise in your descriptions that we could say that this is our budget. You know our company very well. Thank you very much for all these years of your work.
Thank you very much. Are there any further questions? I can't see nothing.
Actually, it was also received from internet. On the basis of the presentations, I understand that everything is clear. I would like to thank you for coming. Thank you very much also to our internet followers who are listening to our transmission. Of course, I invite you to discuss the results after the second quarter, which we will organize at the end of July. Of course, you are invited to lunch. Thank you very much for your attention.