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2026-11-02T09:18:22

Mulia Industrindo Results 2026: Rp162.8 Billion Loss as a Float Glass Furnace Is Rebuilt

Mulia Industrindo业绩：前9月亏损1,628亿印尼盾，旗下Muliaglass重建一座平板玻璃窑炉

Mulia Industrindo results for January–September 2026 swung to a Rp162.77 billion net loss from a Rp20.90 billion profit a year earlier, according to the interim financial statements summarised by The Signal on 28 October 2026. Gross profit more than halved because production costs barely fell as revenue weakened. Meanwhile its subsidiary PT Muliaglass began rebuilding one of its three float glass furnaces on 20 October 2026 to cut gas costs amid an oversupplied glass market.

Key Facts

Why Mulia Industrindo results came under pressure

MLIA's revenue decline was small, about 2.5%. The real problem was margin: cost of revenue barely fell, so gross profit dropped from Rp490.30 billion to Rp236.23 billion. After selling, administrative and interest expenses, the company booked a pre-tax loss of Rp199.01 billion. A tax benefit of Rp36.24 billion reduced the net loss to Rp162.77 billion, or Rp24.61 per share.

The balance sheet shifted too. Inventories rose to Rp1.28 trillion from Rp1.13 trillion, short-term bank loans rose to Rp390.34 billion and trade payables to third parties rose to Rp482.55 billion. Operating cash flow fell to Rp75.52 billion, while investing activities used Rp359.00 billion. Equity fell to Rp5.24 trillion. Subsidiary PT Muliaglass, 99.99% owned, reported total assets of Rp7.14 trillion.

Muliaglass rebuilds a float glass furnace

In a disclosure dated 21 October 2026, Director and Corporate Secretary Linda Halim explained that the furnace being rebuilt had entered the final year of its operating life. Lower gas allocation has pushed up the average gas price, while the market is oversupplied with sheet glass and competition is tight. The company says the step is meant to protect Muliaglass's financial position and ease selling pressure.

Muliaglass says it will keep running its other two furnaces at optimal levels and believes their output can meet the needs of distributors, processors and other customers. It expects a full positive cash flow effect from 2027, mainly because less gas will be bought at market prices.

What it means for building glass buyers

For contractors, glass shops and homeowners, the news does not signal a glass shortage; the company itself describes an oversupplied market. Still, gas costs are a key factor in glass making, just as in ceramics. Sensible steps:

  • For large projects, request quotes for float glass and processed glass (tempered or laminated) from more than one processor.
  • State thickness, cut size and glass type clearly in the request so quotes can be compared.
  • Keep the planned mandatory SNI for building safety glass in mind when choosing tempered and laminated glass.

homeX, an integrated building materials and furniture platform in Indonesia with showroom, warehousing and delivery services, helps buyers compare glass and other materials in a single quotation request.

Mulia Industrindo results: related articles and products

FAQ

How much did Mulia Industrindo lose up to September 2026? MLIA booked a net loss of Rp162.77 billion for January–September 2026 on revenue of Rp2.99 trillion, a loss of Rp24.61 per share.

Why is Muliaglass rebuilding a float glass furnace? The furnace is in the last year of its operating life, lower gas allocation has raised the average gas price, and the sheet glass market is oversupplied.

Will sheet glass supply fall? Muliaglass keeps its other two furnaces running and says their output is enough for distributors and processors.

For building and renovation material needs, reach the homeX team on WhatsApp +62 821 1818 998, by email at homex9998@gmail.com or through our contact page.

Sources: The Signal, 28 Oct 2026 (MLIA financial statements); IDXChannel, 21 Oct 2026; EmitenNews, 20 Oct 2026