SERT boosts profit outlook with $106m Slovakia divestment

The divestment forms part of SERT's $604m capital recycling programme.

Stoneweg Europe Stapled Trust (SERT) improved its profit outlook and reduced gearing following the $106m (€70m) sale of its Slovakian logistics and light industrial portfolio, completed in November 2025.

The transaction, executed at a 3.5% premium to book value, generated a $3.6m (€2.4m) gain on net equity and reinforced net income performance.

The divestment forms part of SERT’s $604m (€400m) capital recycling programme, which is now nearly complete. Total disposals since 2022 have reached $620m (€411m), averaging an 11% premium to valuation. Proceeds from the latest sale were used to repay $55.8m (€36.9m) of revolving debt, lowering leverage below 40% and improving interest coverage.

Net tangible asset value per security stands at $3.05 (€2.02), supported by Fitch’s recent BBB credit rating upgrade.

Following the divestment, SERT’s Central European exposure has narrowed from 13.3% to 10.4%, aligning the portfolio more closely with core Western European markets offering deeper liquidity and stronger tenant demand. The manager expects these adjustments to underpin recurring income and net profit momentum into FY2026.

(1.51 SGD = 1 Euro)

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