MOSCOW, Feb 9 – RIA Novosti. A decrease in the launching activity of the American company SpaceX may indicate that its activities are unprofitable, but it is impossible to talk about it with certainty due to the lack of financial statements available for analysis, the general director of the Agat Organization (the head economic research institute of Roscosmos “) Nikita Kazinsky.” In 2019, the number of launches fell from 21 (in 2018 – ed.) To 13, which probably led to an even more significant decrease in EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization – profit before interest, taxes and depreciation – ed.). This may be a sign of unprofitable operations, “he said.
The expert believes that SpaceX will compensate for the shortfall in revenue in the commercial market with high-margin government orders and government subsidies. For example, SpaceX has received over $ 880 million in subsidies to deploy Starlink-based satellite internet in rural areas.
“We are not claiming that SpaceX is unprofitable, and Elon Musk is creating a financial pyramid built on investments and government support for high-tech developments. reporting, it is almost impossible to speak about loss or profitability, “Kazinsky explained.
According to him, analyzing the financial condition of SpaceX is also complicated by the fact that the American company may not have a uniform rate of return per launch.