It turns out that in many cases there is no " net profit (...) regardless of subsidies"

In fact, in some cases the jobs that the subsidized company 'creates' are move expensive to taxpayers (due to subsidies) than it would be to just pay the same people to not work, or work on something else that is actually productive for society at large.

Here's a good analysis of the issue: https://www.theguardian.com/cities/ng-interactive/2018/jul/0...