BioHouse is a small German retailer of biological products with 20 shops across the whole country. This year (year 0) the company achieved revenues of €80k per store with a gross margin of 30%. BioHouse expects its sales revenues to increase 10% per year during the next 3 years, while costs increase 5% per year keeping the same number of stores. Administrative and other non-operating costs will be kept at €5k/shop per year and depreciation will remain constant at €40k per year for the entire company. Change in working capital and CAPEX equal €10k and €45k per year for the next 3 years (for the entire company). The company has no debt and corporate taxes are 35%.

Calculate the EBITDA of this Company.