Exactly......real profit is only AFTER you have covered all the costs of actually doing the business.
Or put another way.
I borrow $10 million at 5% a year...=$500,000
I buy an $8 million jet and have $2 million for setup/fixed ($1 million) and offsetting operational costs.
I sell flights at $2000/ hour that really cost $3000/hour to fly.
I fly 1000 hours, because customers love a bargain....so $2 million of Revenue....and needing $1million to offset the operating costs.
Hence. $2million revenue but $2.5 million of costs which in the real world is a loss of $500,000......and a business doomed to fail.
...but on this basis it would be a business for sale at $9million.......!!!!
(I haven't even considered the deprecation of the aircraft asset, nor any corporate taxes due in the above...which only make the picture worse.)
EBITDA is a useful accounting number for analysis purposes, but of little worth for understanding real profitability without other data.