abrdn European Logistics Income

ASLI.L

REIT - Diversified · Real Estate

Price

19.26 GBp

+0.54 (+2.88%)

Market Cap

£79.4M

Exchange

London Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Mixed

Stability

Strong

Valuation

Data not available

Dividends

Good

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Share count rising — dilution

+43.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 288.1M (2021) → 412.2M (2025)

Winston Score History

The full picture

abrdn European Logistics Income plc is a real estate investment trust (REIT) that owns warehouse and logistics buildings across Europe. Its tenants are companies that need storage and distribution space — think e-commerce retailers, delivery firms, and manufacturers. The trust is managed by abrdn, a large UK-based asset manager, and focuses specifically on the growing demand for modern logistics facilities.

The company makes money by collecting rent from tenants on long-term leases, then passing most of that income to shareholders as dividends — which is how REITs are required to operate. Its properties are spread across countries like Germany, the Netherlands, France, and Poland, and the trust has a market cap of around $100 million, making it a small player in the sector. The main risk it faces is rising interest rates, which increase borrowing costs and can push property valuations lower, putting pressure on both the portfolio value and the dividend it pays out.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-65.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-210.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

18.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~5 years

€81M cash & investments

€81M cash & investments at current burn rate

Revenue declining

abrdn European Logistics Income's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-31.2%

Thin — -31.2% gross margin

Profit after running costs

Operating Margin

-46.2%

Losing money on operations — -46.2%

Return on the money invested

ROCE

3.1%

Weak — 3.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

-38.1%

Shrinking sales (-38.1% YoY)

Profit growth

EPS YoY

<−1,000%

Earnings shrinking (<−1,000% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

12.3%

Converts sales into free cash efficiently (12.3%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.60

Conservative — low debt load (0.60)

Covers its interest

Interest Cover

4.10x

Adequate interest coverage (4.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

159.60%

Healthy income — 159.60% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

-41.0%

Dividend cut (-41.0% YoY) — warning sign

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