abrdn European Logistics Income (ASLI) H1 2026 earnings summary

Executive summary

• Completed sale of four assets in France and the Netherlands for €113 million, leaving only one asset unsold as of 30 June 2026.

• 26 of 27 original assets sold, generating over €530 million in gross proceeds before debt repayment.

• Managed wind-down strategy continues, with liquidation and capital return to shareholders planned after final asset sale.

Financial highlights

• Net asset value (NAV) per share fell to 26.1 euro cents (22.5p) at 30 June 2026 from 33.5 euro cents (29.3p) at 31 December 2025.

• Ordinary dividend paid per share was 2.32 euro cents, down from 4.03 euro cents in the prior period.

• Net asset value total return was -1.6% for H1 2026, compared to -11.2% for 2025.

• Share price total return was -8.8% for H1 2026, compared to 24.2% for 2025.

• Gearing (LTV) reduced to 17.4% from 27.6% at year-end 2025.

• Net operating loss before finance costs was €2.1 million for H1 2026, compared to a profit of €12.3 million in H1 2025.

• Total comprehensive loss for H1 2026 was €2.2 million, versus a profit of €9.3 million in H1 2025.

Outlook and guidance

• European real estate market faces subdued growth, inflationary pressures, and higher financing costs, leading to lower liquidity and longer transaction times.

• Final asset sale in the Netherlands is progressing; liquidation and capital return to follow completion.