GUIDANCE 2019 – 2021 incl. audited 2018 results
1
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 2
The slides contained herein include prospects, statements of future expectations and other forward-looking statements
that are based on management's current views and assumptions and involve known and unknown risks and
uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such
forward-looking statements.
Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive
situation, particularly in the Mount Wish’s core business and core markets, (ii) performance of financial markets
(particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, (v) persistency
levels, (vi) changes in laws and regulations, including tax regulations, (vii) re-/financing conditions and strategic
investments, including related integration issues, and reorganization measures, and general competitive factors, in each
case on a local, regional, national and/or global basis.
Unless stated otherwise all monetary values are presented in US Dollar.
Mount Wish Corporation
Disclosure
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 3
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure and Organizational Chart
10. Appendix
Leading FinTech with regards
to the cross-sector
integration between forex,
rates, commodities and
insurance
First-mover with regards to
fully automated FICC
exposure insurance
Exceptional revenue and
profit growth
Political support and social
impact are helping us to
scale internationally
Significant network and scale
effects paired with long times
to market (regulatory
reasons) giving us an unfair
competitive advantage which
makes it incredibly hard for
new market entrants to catch
up with us
Top talent bundling specific
know-how in the areas of IT,
insurance, banking, treasury
and FICC.
Contracts worth ARR (gross)
of 60.4bn EUR at the end of
FY 2018
Technological, structural and
financial advantages
including long non-
compete agreements with
key staff and external
distribution partners
including some of the
largest international banks
Contract Value in terms of
ARR (gross) 2016 to 2021
CAGR: 8,2834,876%
Since our risk management
approach achieves the
mission of the IMF with a
much higher degree of
efficiency and efficacy we
were able to secure political,
regulatory and strategic
support worldwide
Around 3 years and 220bn -
400bn EUR in gross
revenues head start
compared to potential
competitors already now.
First-mover-advantage
increases over time.
Currently growing the team
to more than 1,500 highly
experienced and talented
employees across the
globe.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 4
Group Summary
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 5
Markus Wunsch - Founder, Chairman and CEO
Markus Wunsch
Founder, Chairman and CEO
Interims-Chief Product Officer, RiskPool
Markus has substantial experience in intra- and entrepreneurial ventures with subject-matter and management responsibilities spanning
a range of topics as broad as finance (esp. FP&A, M&A, treasury and transfer pricing), digital transformation, strategy and marketing.
Hence he is used to working on multiple projects and in several roles at once as well as to handle ambiguous tasks and high pressure
with self-confidence, creativity and an exceptionally good sense for people.
What's more, Markus is a truly passionate strategist, competitive doer of things and resilient visionary who loves to go running (He is
also competing in marathons for some charities like Cancer Research UK), hiking or racing sailing boats in his little spare time but also
enjoys cooking, travelling and reading to keep his mind sharp and alert. With regards to the latter, Markus is also taking seemingly
disparate classes (e.g. philosophy, politics, psychology, economics, business management, computer and data science) at well-kown
universities (e.g. Harvard, Oxford, LSE) and online (e.g. Udemy, Google, CFA) on a regular basis which again leads him to innovative ideas
or compelling solutions for current challenges and finally to new business opportunities. Hence Markus can be considered a classic
"expert-generalist".
Markus is an Industrial Management Assistant (IHK) by training, Certified Business Facilitator (Daimler), CFA charterholder and currently
participates in the Owners and Presidents Management Program at Harvard Business School.
Beyond this, Markus is a true risk-taker who has gone all-in (having invested all he had plus gone into personal debt) to revolutionize
the world of finance and thus to make a true impact benefitting society as a whole.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 6
Clearer messaging with five dedicated brands starting in Q2 2019
RiskPoolRock+Water
Asset ManagementFincato DAO M16
RiskPool is our core product which tracks,
pools and covers all financial risks of our
customers.
Rock+Water Asset Management is our
inhouse insurance asset manager.
Rock + Water as name for the insurance
asset management provider within Mount
Wish has been chosen to symbolise solidity
and reliability (Rock) as well as liquidity
(Water). Furthermore, Rock as a metaphor is
related to Mount again and somehow these
two words also put us in a category
reminiscent of two other large players in the
asset management industry and hence
symbolize our ambition to reach comparable
if not even a bigger scale.
The dark grey color in the logo stands for
Rock and the aqua color for water while the
plus sign color connects the brand again to
the color scheme of the Mount Wish Group.
Fincato is our new central brand for all
marketplace products and thus replaces
FinCaT, FundMaster and BiSure as stand-
alone brands.
This change allows us to communicate the
financial marketplace character more
effectively (mercato is the latin word for
marketplace and hence we used it as the
base of the product name), reduces
potential confusion and limits possible brand
disputes.
Additionally it allows us to modularize the
various sub categories more easily and
hence react faster to potential changes in
the market.
The logo consist of two shaking hands
symbolizing the mutually beneficial deals
made between the various stakeholders via
fincato.
The new brand for our information and
data-driven solutions as well as FIG advisory
services is DAO.
DAO is the abbreviation for Data Access
Object and a well known term in the tech
industry while it can also be referred to the
Chinese word DAO which means way and
represents a wisely elaborated and flexible
strategy (playing a central role in Daoism).
Hence you could also interpret it as a data-
derived / data-driven guide on where to go
or how to react to various situation.
This change again helps us to roll-out the
product globally without any brand issues.
The two boxes in the logo symbolize wither
DAOs access to multiple data-sources or
simply a user interface. However, it could
also be seen as combining ecosystem and
single entity views in a clever way.
M16 is our brand for all backend products
and services (e.g. banking / insurance core
system software, infrastructure solutions,
and related digital services) as well as for our
own inhouse bank and shared services
centers but also opens our product range to
other fields and customer segments with
dedicated (white label) offers.
The letter M stands for Mount Wish or our
initial office location in Munich while (20)16
is the year in which Mount Wish was
founded.
It’s also the holding brand for a couple of
complementary services and tech brands
which continue to exist in wide-parts under
their own label as well as the parent
company for fleek (metaaccounts).
by Mount Wish
by Mount Wish by Mount Wish
by Mount Wish
by Mount Wish
by Mount Wish
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 7
New Global Headquarters – One Vanderbilt
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 8
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 9
Total addressable market as of 2019 with RiskPool market growing around 8% per year
16.45
2.05
1.52
1.16
0.640.46
0
5
10
15
20
25
Markets in trillion USD
Other and Metaccounts
Insurance/ Banking as a Platform and
rel. Software including financial cloud
solutions
FinTelligence Data
Financial Services Marketpaces
Asset Mgmt Fees (R+W)
RiskPool
FundMaster
67%
FinCaT
20%
BiSure
10%
Other
3%
Marketplaces Split
Standardized
Non-FIG
29%
Standardized FIG
(Addressable Only)
52%
Synthetic Hedging
19%
Magma
0%
RiskPool Split
Sources:
Bank for International Settlements, International
Monetary Fund, World Bank, McKinsey & Co,
Oliver Wyman
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 10
Consolidated Balance Sheets – Assets I
All values in million USD 2021 2020 2019 2018 2017 2016
Total Cash & Due from Banks 170,568 51,528 317 102 (0)
Overnight Investments 127,926 38,646 206 67
Cash & Due from Banks Growth 231.02% 16,166.98% 209.47%
Investments - Total 2,863,942 794,587 46,636 140
Trading Account Securities 182,833 85,027 18,485 50
Federal Funds Sold & Securities Purchased 231,596 70,163 3,278 29
Federal Funds Sold 92,638 28,065 1,311 18
Securities Bought Under Resale Agreement 138,958 42,098 1,967 6
Treasury Securities 277,915 84,195 3,933 14
Other Securities 1,460,597 266,834 4,060 9
Other Investments 340,446 63,848 1,147 7
Third Party Investment Funds and Similar 370,554 224,521 15,733 30
Investments Growth 260.43% 1,603.79% 33,268.50%
Net Loans 22,396 72,463 19,073 37
Unconsolidated lntercompany Loans 19,758 71,455 18,690
Employee Loan Program 914 488 380 2
Advances and Strategic Loans 1,723 520 3 35
Loan Loss Allowances (Reserves) 23 15 5
Loan growth post loss allowance (69.12%) 279.95% 50,806.17%
Deferred Acquisition Costs including Sales Option Pool Equity Schedule 14,531 2,297 5,689 701
Deferred Acquisition Costs Growth 532.68% (59.63%) 711.69%
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 11
Consolidated Balance Sheets – Assets II
All values in million USD 2021 2020 2019 2018 2017 2016
Strategic Investment Total 125,951 103,557 53,808
Strategic Minority Investments (less than 25%) 118 153 1,021
Strategic Minority Investments (25-50%) 1,122 7,480 33,020
Investment in Unconsolidated Subs. 67,307 62,928 2,223
To be fully consolidated acquisitions (Goodwill already excluded) 57,403 32,997 17,544
Strategic Investment Growth 21.62% 92.46% #DIV/0!
Net Property, Plant & Equipment 225,838 39,877 16,538 6 0 0
Net Property / Plant 96,429 4,235 0 0 0 0
IT Infrastructure 13,459 6,820 4,847 4
Equipment 62 31 20 2
Other 115,889 28,791 11,671 1
Net Property, Plant & Equipment Growth 466.34% 141.12% 257,756.96%
Other Assets (Including Intangibles) 69,727 29,269 12,699 5,620 114 7
Other Assets 1,661 631 249 29 0 0
Goodwill 14,351 8,249 4,386
Intangible Assets 53,715 20,389 8,064 5,591 114 7
Other Assets (Including Intangibles) Growth 138.23% 130.48% 125.97% 4,829.67% 1,528.35%
Tax and Held for Sale Assets 3,175
Deferred Tax Assets 739
Non-current assets and assets of disposal groups classified as held for sale 2,436
Total Assets 3,496,151 1,093,593 154,765 6,607 114 7
Assets - Total Growth 219.69% 606.62% 2,242.54% 5,695.36% 1,528.83%
Return On Average Assets 17.76% 16.06% (13.24%) (9.43%) (0.06%) (0.38%)
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 12
Consolidated Balance Sheets – Liabilities
All values in million USD 2021 2020 2019 2018 2017 2016
Unearned Premiums Account Balance 55,164 23,860 4,083 758
Unearned Premiums Growth 131.20% 484.41% 438.35%
Total Deposits 208,845 22,519 44
Deposits Growth 827.43% 51,182.05%
Total Debt excluding Unearned Premiums and Deposits 618,650 166,068 54,786 104
ST Debt & Current Portion LT Debt 618,650 151,068 24,783 104
Current Portion of Long Term Debt 49,284 5,789 - 4
Short Term Debt 569,366 145,280 24,783 100
Long-Term Debt - 15,000 30,000 -
LT Debt excl. Capitalized Leases - 15,000 30,000
Federal Loans 3
Long Term Debt Growth (100.00%) (50.00%)
Total Debt / Total Assets 0 0 0 0
Reserves for Loss, Insurance and Investment Contracts 252,002 111,070 19,122 25
Reserves for Loss Adjustments
Reserves for insurance and investment contracts 252,002 111,070 19,122 25
Liabilities of disposal groups classified as held for sale 120 1
Liabilities of disposal groups classified as held for sale 120 1
Deferred Tax Liabilities 13,447 20,171 26,895 2,329
Deferred Taxes - Credit 3,575 5,362 7,149
Deferred Taxes - Debit 17,022 25,533 34,044 2,329
Other Liabilities and Convertible Bonds classified as Debt
Other Liabilities
Other Liabilities (excl. Deferred Income)
Convertible Bonds and Mezzanine Capital classified as Debt
Total Liabilities 1,148,108 343,688 105,049 3,218 - -
Total Liabilities Growth 234% 227% 3164%
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 13
Consolidated Balance Sheets – Equity
All values in million USD 2021 2020 2019 2018 2017 2016
Convertible and Preferred Stock 26,559 3,608 24,000
Convertible Bonds and Mezzanine Capital classified as Equity 24,000
Preferred Stock (Carrying Value)
Non-Redeemable Preferred Stock
Securitised RiskPool Contracts* 26,559 3,608
Convertible and Preferred Stock Growth 636.09% (84.97%)
Common Equity 96,000 96,000 16,000 0 0 0
Common Equity (Total) 96,000 96,000 16,000 0 0 0
Common Stock Par/Carry Value
Additional Paid-In Capital/Capital Surplus
Total Shareholders' Equity 96,000 96,000 40,000 0 0 0
Total Shareholders' Equity / Total Assets 0 0 0 0 0 0
Return On Average Total Equity 5 3 4 17,237,071 28,630,346 14,703,930
Retained Earnings 1,946,832 539,886 (99,470) 56
Retained Earnings Growth 260.60% (642.76%)
Cumulative Translation Adjustment/Unrealized For. Exch. Gain 93,156 17,561 (1,025)
Cumulative Translation Adjustment/Unrealized For. Exch. GainGrowth 430.48% (1,813.67%) #DIV/0!
Unrealized Gain/Loss Marketable Securities 108,383 39,045 3,419
Unrealized Gain/Loss Marketable Securities Growth 177.58% 1,041.99%
Treasury Stock, SOP and Other Appropriate Reserves 77,113 53,805 106,792 3,333 114 7
Other appropriate reserves 75,574 53,067 17,610 10
SOP Reserve 1,539 738 89,151 701 - -
Treasury Stock
Reserves and revaluations (Change of legal form UK Ltd to Delaware C Corp.) 2,632 104 7
Treasury Stock, SOP and Other Appropriate Reserves Growth 0 (0) 31 28 15
Common Equity / Total Assets 0 0 0 0 0 0
Accumulated Minority Interest
Total Equity 2,348,043 749,905 49,716 3,389 114 7
Equity Growth 213.11% 1,408.39% 1,367.16% 2,872.15% 1,526.39%
Liabilities & Shareholders' Equity 3,496,151 1,093,593 154,765 6,607 114 7
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 14
Equity, Tier-1 Capital and Liabilities over time
2016 2017 2018 2019 2020 2021
Common Equity 16,000 96,000 96,000
Tier 1 Capital 23,321 689,691 2,119,945
Total Equity 7 114 3,389 49,716 749,905 2,348,043
Liabilities 0 0 3,218 105,049 343,688 1,148,108
Debt to Equity Ratio 0.00% 0.00% 94.95% 211.30% 45.83% 48.90%
0.00%
50.00%
100.00%
150.00%
200.00%
250.00%
0
500000
1000000
1500000
2000000
2500000
All values in million USD
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 15
All values in million USD 2021 2020 2019
Common Equity Tier-1 Capital (CET 1) 2,119,945 689,691 23,321
Common Equity Tier-1 Quota (CET 1) 2.06 2.01 0.89
Common Equity Tier-2 Capital (CET 2) 3,591,110 1,099,888 (41,874)
Common Equity Tier-2 Quota (CET 2) 3.50 3.21 (1.60)
Internal Capital Adequacy Ratio 1 3.51 3.71 0.80
Internal Capital Adequacy Ratio 2 4.30 4.49 0.68
Internal Capital Adequacy Ratio 3 5.81 4.94 0.85
Liquidity Coverage Ratio 11.23 16.03 9.61
Stressed Liquidity Ratio 23.37 27.07 (3.06)
Total Risk-Weighted Assets 1,027,236 342,752 26,233
Total Economic Capital 673,424 307,704 157,761
Stressed Net Liquidity Position (sNLP) 1,197,037 366,629 (13,958)
Leverage Exposure 946,503 282,905 100,717
Solvency-II Capital Ratio 1.97 1.32 (0.09)
Leverage Ratio 0.33 0.31 0.68
Cash Ratio 4.92 5.23 0.96
Quick Ratio 4.94 5.53 1.21
Current Ratio 5.18 5.76 1.62
Regulatory Capital and Liquidity Requirements
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 16
Summarized Income Statements
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Total Profit / Loss from Operations 722,918 322,594 183,900 79,927 (3,781) (15,754) (737) (91) (0) (0) (0) (0)
Growth Capacity Utilization 1,924 962 251 126 260 130
Extraordinaries 241 78 92 30 (4) (1)
Net Interest Income after Provision (1,430) (465) (1,465) (476) (571) (186) (1) (0)
Sec and trading 162,575 59,912 58,568 21,405 5,129 804
Other Commission & Fee Income 813 264 293 95 26 8
Other Operating Income 183 59 66 21 6 2
Human Talent Expenses 16,236 5,318 6,615 2,189 1,888 638 1 0 0 0 0 0
Insurance and Banking Charges 6,733 2,742 3,253 1,203 (42) (9) 0
Plant, Equipment and IT Expenditures 132,314 43,002 4,802 1,561 336 109 0 0 0 0 0 0
Marketing & Brand 8,547 2,778 6,487 2,108 318 104 0 0 0 0 0 0
Operating Expense (HQ) 1,164 378 929 302 898 292 0 0 0 0 0 0
Miscellaneous Non Operating Expense 262 148 32 14 14 5 0 0 0 0 0 0
Professional Services 6,182 2,267 10,203 3,402 14,811 5,484 0 0 0 0 0 0
Equity in Affiliates (Pretax) 5,115 46 46 838 838
Unusual Expense
Pretax Income 720,900 326,772 209,430 90,396 (16,322) (20,782) (739) (91) (0) (0) (0) (0)
Pretax Margin22.26% 23.71% 15.98% 16.47% (6.46%) (75.45%)
Taxes and Tax Credits 99,787 40,519 34,323 10,900 4,173 (4,106) (116) (14) 0 0 0 0
Effective Tax Rate 13.84% 12.40% 16.39% 12.06% (25.58%) 19.76% 15.75% 15.75% 15.75% 15.75% 15.75% 15.75%
Net Income 621,113 286,253 175,107 79,496 (20,495) (16,676) (623) (77) (0) (0) (0) (0)
Net Margin 19.18% 20.77% 13.36% 14.48% (8.11%) (60.55%)
Post-Tax Extraordinaries (75) 50 501
Net Income Available to Common 621,038 286,303 175,608 79,496 (20,495) (16,676) (623) (77) (0) (0) (0) (0)
EPS (Basic) 0.12 0.06 0.04 0.02 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00)
EPS (Diluted) 0.08 0.04 0.02 0.01 (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00) (0.00)
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 17
Summarized Cash Flow Statements
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Operating Activities
Total Funds from Operations 1,231,287 530,848 439,964 180,410 37,804 (4,154) (9) (4) (0) (0) 0 0
Group Operations - Holding Expenditures 37,362 12,982 23,632 8,243 16,047 5,779 1 0 0 0 0 0
Growth Capacity Utilization, Extraordinaries and Tax (97,493) (39,409) (33,966) (10,737) (3,898) 4,245 117 14 0 0 0 0
Net Operating Cash Flow 1,096,432 478,457 382,366 161,430 17,859 (5,688) 107 10 (0) (0) (0) (0)
Investing Activities
Security Gains and Prop Trading 162,575 59,912 58,568 21,405 5,129 804
Capital Expenditures (Fixed Assets) 196,964 140,745 27,473 13,943 16,538 6,999 140 17 0 0 0
Capital Expenditures (Other Assets) 34,987 13,760 12,956 5,279 2,722 699 381 43 0 0 0
Net Assets from Acquisitions
Sale of Fixed Assets & Businesses 653 273 228 97 17 2 0 0 0
Strategic acquisitions, investments, PMI and uncons. subsidiaries (45,454) (124,914) (68,555)
Other Sources (including Strategic Loan Repayments) 59,434
Net Investing Cash Flow (54,742) (94,320) (106,548) 2,280 (82,670) (6,892) (521) (60) (0) (0) (0)
Financing Activities
Cash Dividends Paid 124,223 57,251 35,021 15,899 (125) (15)
LT Debt (16,700) (17,550) 30,000 30,000
Convertible Bonds and Mezzanine Financing (88,526) 24,000
Common / Preferred Stock 80,000 16,000
Securitised Products 26,559 3,608
Unearned Premiums (RiskPool) 55,164 23,332 23,860 11,212 4,083 4,037 758 87
Other Sources and Uses 40 20 1,920 288 510 255
Net Financing Cash Flow (59,159) (33,899) (31,709) (4,399) 74,593 34,292 883 102
Exchange Rate Effect 207,874 94,037 76,779 29,649 (5,494) (5,961) (98) (12) (0) (0) (0) (0)
Free Cash Flow 1,190,404 444,275 320,887 188,959 4,288 15,751 371 40 (0) (0) (0) (0)
Free Cash Flow Growth 271% 135% 7383% 1100% 1057% 39284%
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 18
Free Cash Flow and Market Effects over time
2016 2017 2018 2019 2020 2021
Market Effects 0 0 -98 -5,494 76,779 207,874
Free Cash Flow w/o Realized Market Effects 0 0 469 9,782 244,108 982,530
-10,000
190,000
390,000
590,000
790,000
990,000
1,190,000
1,390,000
All values in million USD
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 19
Cyclicality – Total Sales per Quarter
1st Qtr
38%
2nd Qtr
20%
3rd Qtr
28%
4th Qtr
14%
1st Quarter:
▪ Fast growth mainly driven by full-year planning cycles and according ability to
pitch customers based on their annual reports (full treasury accounting year)
▪ Growth is also supported by a high number of refinancing deals (FundMaster)
usually starting in Q1 each year
2nd Quarter:
▪ Late annual reports as pitch basis and investor discussions ahead of various annual
meetings leading to further contracts signed
3rd Quarter:
▪ Half-year results driving sales a bit more than quarterly figures
▪ Full year effect post launch from a Mount Wish perspective
▪ Lots of relevant trade fairs helping us to drive sales
▪ Customer starting their full year planning processes again while preparing for
year-end-activities and hence many deals close with a starting date in Q1 of the
following year
4th Quarter:
▪ Year-end sales driving growth to a certain degree yet since we don’t run excessive
discount campaigns in order to maintain our price levels there are hardly any
extraordinary sales effects
▪ A lot of supporting discussions (often initiated in Q3) leading to the strong sales
figures in Q1
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 20
Unearned Premiums – Net Flows
-5000
0
5000
10000
15000
20000
All values in million USD
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 21
Elaborated Group Guidance: Gross Revenues by business line
2021 2020 2019
FY H2 H1 FY H2 H1 FY H2 H1
Total Gross Revenues 3,238,444 1,843,431 1,378,236 1,310,837 762,116 548,826 252,571 223,499 159
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
RiskPool Rock+Water FundMaster FinCaT BiSure FinTelligence Data Plattform Services, Advisory and Other
All values in million USD
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 22
Elaborated Group Guidance: Income from Operations
All values in million USD 2021 2020 2019
FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1
Operating Profit and Loss
Total Profit / Loss from Operations 722,918 426,970 216,385 210,585 322,594 164,216 157,080 183,900 111,744 57,039 54,705 79,927 41,924 38,002 (3,781) 11,721 8,122 3,600 (15,754) (8,240) (7,513)
Profit / Loss from RiskPool 437,934 252,986 132,505 120,481 184,947 100,055 84,893 134,719 79,307 41,733 37,574 55,412 30,787 24,625 8,742 12,529 7,645 4,884 (3,786) (2,103) (1,683)
17.38% 17.38% 17.38% 17.38% 17.38% 17.38% 17.38% 12.69% 12.69% 12.69% 12.69% 12.69% 12.69% 12.69% 4.96% 7.11% 7.42% 6.68% #DIV/0! #DIV/0! #DIV/0!
Profit / Loss from Rock+Water 30,819 21,298 11,687 9,611 10,978 6,813 4,165 9,983 6,972 3,824 3,149 3,707 2,213 1,494 599 656 533 124 (27) 38 (64)
66.70% 70.30% 70.53% 70.02% 69.00% 69.49% 68.22% 63.95% 69.59% 70.11% 68.98% 66.28% 67.37% 64.73% 47.41% 59.30% 63.38% 46.41% (17.08%) 24.82%
(1,930.15%
)
Profit / Loss from Marketplaces 216,543 120,329 54,712 65,617 102,896 44,840 58,056 52,198 29,616 13,704 15,912 24,007 10,589 13,418 6,134 9,308 5,719 3,589 (3,746) (1,873) (1,873)
Profit / Loss from FundMaster 145,450 77,679 31,909 45,770 70,755 27,580 43,175 27,505 15,293 5,986 9,308 13,636 4,949 8,687 2,902 5,570 3,609 1,961 (2,668) (1,334) (1,334)
81.13% 83.03% 79.70% 85.53% 82.54% 78.51% 85.33% 63.52% 67.96% 62.27% 72.20% 65.57% 58.02% 70.82% 32.04% 67.62% 73.01% 59.52% #DIV/0! #DIV/0! #DIV/0!
Profit / Loss from FinCaT (incl. White Bank) 68,968 40,099 21,248 18,850 31,154 16,628 14,526 24,302 13,867 7,394 6,473 10,436 5,621 4,815 3,317 4,090 2,286 1,804 (727) (363) (363)
83.02% 87.14% 87.78% 86.44% 84.06% 84.91% 83.10% 72.78% 78.49% 79.56% 77.32% 73.34% 74.76% 71.74% 68.86% 84.91% 86.29% 83.24% #DIV/0! #DIV/0! #DIV/0!
Profit / Loss from BiSure 2,125 2,551 1,554 996 988 632 356 391 456 325 131 (65) 19 (84) (85) (352) (176) (176) (352) (176) (176)
49.85% 85.14% 87.48% 81.75% 68.94% 73.96% 61.53% (12.41%) 36.55% 45.05% 24.93% (8.97%) 4.47% (26.80%) (100.00%) (100.00%) (100.00%) (100.00%) (100.00%) (100.00%) (100.00%)
Profit / Loss from FinTelligence Data 43,120 31,424 16,952 14,472 23,253 12,200 9,755 (11,774) (3,593) (1,938) (1,655) (2,663) (1,397) (1,266) (18,838) (10,544) (5,646) (4,898) (8,057) (4,226) (3,831)
33.60% 42.62% 42.63% 42.61% 42.58% 42.59% 37.58% (37.52%) (19.93%) (19.93%) (19.93%) (19.94%) (19.94%) (19.95%)
(1,152.66
%) (645.17%) (518.18%) (899.16%) #DIV/0! #DIV/0! #DIV/0!
Profit / Loss from FinTelligence Advisory Business (3,195) 701 395 306 394 236 158 (820) (380) (181) (199) (440) (212) (228) (51) (25) (12) (13) (26) (13) (13)
(107.19%) 38.32% 38.99% 37.48% 34.21% 35.65% 32.28% (310.71%) (61.80%) (53.26%) (72.38%) (113.67%) (95.51%) (138.18%) (330.33%) (184.43%) (52.75%) (68.09%) (101.20%) (86.63%) (120.86%)
Profit / Loss from Plattform as a Service 891 760 439 322 409 234 175 (325) (125) (72) (53) (67) (38) (29) (321) (205) (118) (87) (110) (63) (47)
12.37% 16.23% 16.23% 16.23% 16.23% 16.23% 16.23% (11.02%) (6.51%) (6.51%) (6.51%) (6.51%) (6.51%) (6.51%) (45.66%) (44.85%) (44.85%) (44.85%) (44.85%) (44.85%) (44.85%)
Profit / Loss from Other Operations (3,194) (529) (305) (224) (285) (163) (122) (82) (53) (31) (23) (29) (16) (12) (47) 2 2 (0) (0) (0) (0)
(58.20%) (228.56%) (228.56%) (228.56%) (228.56%) (228.56%) (228.56%) (15.73%) (280.68%) (280.68%) (280.68%) (280.68%) (280.68%) (280.68%) (4.35%) 107.09% 104.04% (718.25%) (199.98%) (257.66%) (222.89%)
Growth Capacity Interims-Utilization 1,924 962 481 481 962 481 481 251 126 63 63 126 63 63 260 130 65 65 130 65 65
Extraordinaries 241 163 90 72 78 48 30 92 62 34 28 30 18 11 (4) (3) (1) (1) (1) (1) (0)
Operating Income Growth 3 3 3 3 3 3 3 (50) 9 6 14 (6) (6) (6) 4 (20) (15) (53) 173 162 187
Average Operating Income Margin 19.85% 23.51% 23.57% 23.21% 20.71% 21.13% 19.23% (19.38%) (11.51%) (10.08%) (13.71%) (23.54%) (20.59%) (28.01%) (164.41%) (72.05%) (42.40%) (181.61%)
Weighted Operating Margin 40.52% 41.12% 39.22% 43.11% 42.08% 39.01% 45.04% 35.68% 33.53% 32.10% 35.17% 34.04% 31.02% 37.69% (5,857%) 657.26% 431.01% 1,314.60%
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 23
Elaborated Group Guidance: Holding Income and Expenses
All values in million USD 2021 2020 2019
FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1
Total Interest Income 1,278 862 479 383 415 256 160 418 282 157 125 136 84 52 23 16 9 7 8 5 3
Interest and Fees on Loans 19 13 7 6 6 4 2 10 7 4 3 3 2 1 3 2 1 1 1 1 0
Interest Income on Fed. Funds 438 296 164 131 142 88 55 189 127 71 57 61 38 24 17 12 7 5 6 3 2
Interest Income on Fed. Repos 197 133 74 59 64 39 25 61 41 23 18 20 12 8 5 4 2 2 2 1 1
Interest on Bank Deposits 542 366 203 163 176 108 68 138 93 52 41 45 28 17 (2) (1) (1) (1) (1) (0) (0)
Other Interest or Dividend Income 81 55 30 24 26 16 10 21 14 8 6 7 4 3 (0) (0) (0) (0) (0) (0) (0)
Total Interest Expense 2,685 1,812 1,007 805 873 537 336 1,868 1,261 701 560 607 374 234 590 398 221 177 192 118 74
Interest Expense on Bank Deposits 3 2 1 1 1 1 0 1 1 0 0 0 0 0 1 1 0 0 0 0 0
Interest Expense on Unearned Premiums 2,705 1,826 1,014 811 879 541 338 1,815 1,225 681 545 590 363 227 557 376 209 167 181 111 70
Interest Expense on Debt (181) (122) (68) (54) (59) (36) (23) (9) (6) (3) (3) (3) (2) (1) 35 24 13 11 11 7 4
Other Borrowed Funds 158 107 59 47 51 32 20 60 41 23 18 20 12 8 (2) (2) (1) (1) (1) (0) (0)
Net Interest Income (1,407) (950) (528) (422) (457) (281) (176) (1,450) (979) (544) (435) (471) (290) (181) (567) (383) (213) (170) (184) (113) (71)
Loan Loss Provision 23 16 9 7 8 5 3 15 10 6 4 5 3 2 5 3 2 1 2 1 1
Net Interest Income after Provision (1,430) (966) (536) (429) (465) (286) (179) (1,465) (989) (549) (440) (476) (293) (183) (571) (386) (214) (171) (186) (114) (71)
Securities Gain and Trading Account Income 162,575 102,662 54,442 48,220 59,912 37,153 22,759 58,568 37,163 20,043 17,120 21,405 12,456 8,949 5,129 4,324 3,215 1,109 804 720 84
Other Commission & Fee Income 813 549 305 244 264 163 102 293 198 110 88 95 59 37 26 17 10 8 8 5 3
Other Non-Interest Holding Income
Human Talent Expense (HQ), Pension and Benefits, Education and
Training Expenses 2,762 1,823 1,006 817 939 564 375 2,470 1,628 898 730 842 505 337 1,888 1,250 691 560 638 385 254
t/o Pensions and Benefits 1,330 898 499 399 432 266 166 1,182 798 443 355 384 236 148 920 621 345 276 299 184 115
t/o Education and Training 532 359 200 160 173 106 67 473 319 177 142 154 95 59 368 248 138 110 120 74 46
Employee Profit Share 13,473 9,094 5,052 4,042 4,379 2,695 1,684 4,146 2,798 1,555 1,244 1,347 829 518 - - - - - -
Plant and Equipment Expenes 131,675 88,881 49,378 39,503 42,794 26,335 16,459 4,366 2,947 1,637 1,310 1,419 873 546 174 117 65 52 56 35 22
t/o Real Estate Acquisitions 92,194 92,194 92,194 4,235 4,235 4,235
IT Infrastructure (HQ) and Outsourced Cyberdefence Services 658 444 247 198 214 132 82 628 423 235 189 204 125 78 235 158 88 70 76 47 29
Insurances 3,166 1,583 791 791 1,583 791 791 833 417 208 208 417 208 208 27 14 7 7 14 7 7
Banking and transaction charges 3,568 2,408 1,338 1,070 1,159 714 446 2,420 1,634 908 726 787 484 303 (69) (46) (26) (21) (22) (14) (9)
External Research, Information and Data 127 86 48 38 41 25 16 120 81 45 36 39 24 15 104 70 39 31 34 21 13
Marketing & Brand 8,547 5,769 3,205 2,564 2,778 1,709 1,068 6,487 4,379 2,433 1,946 2,108 1,297 811 318 215 119 96 104 64 40
Miscellaneous Non Operating Expense 262 114 63 51 148 34 114 32 19 10 8 14 6 8 14 10 5 4 5 3 2
Other Operating Income and Expenses (HQ) (854) (576) (320) (256) (277) (171) (107) (743) (502) (279) (223) (242) (149) (93) (789) (533) (296) (237) (256) (158) (99)
Professional Services 6,163 3,902 2,127 1,775 2,261 1,306 955 10,011 6,672 2,771 3,900 3,339 1,883 1,457 14,739 9,278 5,048 4,230 5,461 3,140 2,322
t/o Financial Advisory, Audit and Tax 509 255 127 127 255 127 127 653 326 163 163 326 163 163 2,126 1,063 531 531 1,063 531 531
t/o M&A Advisory 912 456 228 228 456 228 228 1,698 849 424 424 849 424 424 1,135 567 284 284 567 284 284
t/o IPO-related expenses 40 20 10 10 20 10 10 1,920 1,632 38 1,594 288 144 144 510 255 128 128 255 128 128
t/o Legal Expenses (HQ) 4,603 3,107 1,726 1,381 1,496 921 575 5,602 3,781 2,101 1,681 1,821 1,120 700 10,836 7,314 4,063 3,251 3,522 2,167 1,354
t/o Advisory and Other Outsourced Labor 98 64 35 29 34 20 14 138 83 45 39 55 31 25 133 78 42 37 54 30 25
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 24
Elaborated Group Guidance: Taxes, Net Income Levels and Earnings Per Share
All values in million USD 2021 2020 2019
FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1
Equity in Affiliates (Pretax) 5,115 46 46 46 838 838 838
Unusual Expense
Pretax Income 720,900 415,659 207,591 208,068 326,772 167,298 158,176 209,430 126,805 65,761 61,045 90,396 47,889 42,506 (16,322) 4,207 4,864 (656) (20,782) (10,571) (10,210)
Pretax Margin 22.26% 22.55% 21.81% 23.33% 23.71% 23.10% 24.19% 15.98% 16.64% 16.60% 16.68% 16.47% 16.18% 16.82% (6.46%) 1.88% 3.82% (0.68%) (75.45%) (83.47%) (68.62%)
Income Taxes 99,787 62,660 26,962 35,697 40,518 20,309 20,005 34,323 24,647 8,399 16,248 10,900 5,857 5,043 4,175 8,241 8,780 (538) (4,106) (2,090) (2,016)
Income Tax - Current - Domestic 109,163 62,723 31,249 31,474 49,831 25,334 24,292 31,362 18,943 9,803 9,140 13,643 7,197 6,446 (2,708) 544 676 (132) (3,292) (1,683) (1,608)
Income Tax - Current - Foreign (180) (90) (45) (45) (90) (45) (45) 35 17 9 9 17 9 9 8,511 8,511 8,511 0 (0) (0)
Income Tax - Deferred - Domestic (739)-
(739) (739) 64-
64 64- - -
Income Tax - Deferred – Foreign 8,511 8,511 8,511-
8,511 8,511 8,511-
0 0 0-
Income Tax Credits 16,969 8,484 4,242 4,242 8,484 4,242 4,242 5,649 2,825 1,412 1,412 2,825 1,412 1,412 1,629 814 407 407 814 407 407
Equity in Affiliates 44 44 44 670 670 670
Effective Tax Rate 13.84% 15.07% 12.99% 17.16% 12.40% 12.14% 12.65% 16.39% 19.44% 12.77% 26.62% 12.06% 12.23% 11.86% (25.58%) 195.89% 180.52% 82.03% 19.76% 19.77% 19.74%
Other After Tax Income (Expense) 3 3
Consolidated Net Income 621,113.3
4 352,999.56 180,628.85 172,370.71 286,253.46 146,989.30 138,170.61
175,107.1
2 102,158.53 57,361.48 44,797.05 79,495.66 42,032.05 37,463.60
-
20,494.95
-
4,031.66
-
3,916.18
-
115.48
-
16,675.60
-
8,480.56
-
8,194.16
Minority Interest Expense
Net Income 621,113 353,000 180,629 172,371 286,253 146,989 138,171 175,107 102,159 57,361 44,797 79,496 42,032 37,464 (20,495) (4,032) (3,916) (115) (16,676) (8,481) (8,194)
Net Margin 19.18% 19.15% 18.98% 19.33% 20.77% 20.30% 21.13% 13.36% 13.40% 14.48% 12.24% 14.48% 14.20% 14.82% (8.11%) (1.80%) (3.07%) (0.12%) (60.55%) (66.97%) (55.08%)
Extraordinaries & Discontinued Operations 50 50 50 501 501 501
Extra Items & Gain/Loss Sale Of Assets
Cumulative Effect - Accounting Chg
Discontinued Operations (125) (125) (125)
Net Income After Extraordinaries 621,038 352,875 180,504 172,371 286,303 147,039 138,171 175,608 102,659 57,361 45,298 79,496 42,032 37,464 (20,495) (4,032) (3,916) (115) (16,676) (8,481) (8,194)
Preferred Dividends- - - - - - - - - - - - - - - - - - - - -
Net Income Available to Common 621,038 352,875 180,504 172,371 286,303 147,039 138,171 175,608 102,659 57,361 45,298 79,496 42,032 37,464 (20,495) (4,032) (3,916) (115) (16,676) (8,481) (8,194)
Net Income Available to Common 621,038 352,875 180,504 172,371 286,303 147,039 138,171 175,608 102,659 57,361 45,298 79,496 42,032 37,464 -20,495 -4,032 -3,916 -115 -16,676 -8,481 -8,194
EPS (Basic) 0.124 0.071 0.036 0.034 0.057 0.029 0.028 0.035 0.021 0.011 0.009 0.016 0.008 0.007
-
0.004
-
0.001
-
0.001
-
0.000
-
0.003
-
0.002
-
0.002
EPS (Diluted) 0.087 0.049 0.025 0.024 0.040 0.021 0.019 0.025 0.014 0.008 0.006 0.011 0.006 0.005 -0.003 -0.001 -0.001 0.000 -0.002 -0.001 -0.001
EPS (Diluted) Growth 254% 244% 215% 281% 260% 250% 269% -957% -2646% -1565% -39490% -577% -596% -557% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 25
Elaborated Group Guidance: Income from Operations share by business line over time
-100%
-80%
-60%
-40%
-20%
0%
20%
40%
60%
80%
100%
FY 2021 H2 2021 Q4 2021 Q3 2o21 H1 2021 Q2 2021 Q1 2021 FY 2020 H2 2020 Q4 2020 Q3 2020 H1 2020 Q2 2020 Q1 2020 FY 2019 H2 2019 Q4 2019 Q3 2019 H1 2019 Q2 2019 Q1 2019
RiskPool Rock+Water FundMaster FinCaT BiSure FinTelligence Data FinTelligence Advisory Plattform Services Other Operations
All values in million USD
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 26
All values in million USD 2021 2020 2019
FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1
Total Funds from Operations 1,231,287 717,151 373,050 344,100 530,848 282,073 248,776 439,964 269,538 142,093 127,445 180,410 98,132 82,277 37,804 42,098 28,213 13,934 (4,154) (2,040) (2,114)
RiskPool 885,294 512,944 272,068 240,876 372,350 206,071 166,279 360,812 218,628 116,761 101,868 142,184 79,630 62,554 32,210 32,210 21,816 10,395- - -
Rock+Water 37,934 25,042 13,731 11,311 12,892 8,029 4,863 13,754 8,795 4,725 4,070 4,959 2,908 2,050 909 909 721 188 27 84 (56)
Marketplaces 215,048 117,729 54,010 63,718 100,704 44,330 56,374 52,040 29,441 13,721 15,719 24,181 10,791 13,390 7,148 9,545 5,764 3,781 (2,679) (1,339) (1,339)
FundMaster 144,951 76,087 31,823 44,263 68,864 27,293 41,572 29,469 15,521 6,246 9,274 13,948 5,249 8,699 3,771 5,513 3,517 1,996 (2,090) (1,045) (1,045)
FinCaT (incl. White Bank) 68,874 39,807 21,060 18,747 31,177 16,603 14,574 23,142 13,721 7,303 6,419 10,425 5,600 4,825 3,400 4,032 2,247 1,785 (589) (294) (294)
BiSure 1,222 1,835 1,127 708 663 435 228 (571) 198 171 27 (193) (58) (135) (24)- - - - - -
FinTelligence Data 91,127 58,493 31,552 26,941 43,302 22,718 20,584 16,203 12,235 6,600 5,636 9,061 4,753 4,307 (2,341) (591) (132) (459) (1,531) (803) (729)
FinTelligence Advisory 1,000 640 360 279 360 215 145 (2,694) (296) (137) (158) (369) (175) (194) (195) (64) (6) (8) (19) (9) (10)
Plattform as a Service 3,516 2,466 1,423 1,044 1,328 759 569 1,051 769 444 326 414 237 178 130 88 51 37 48 27 20
Other Operations (2,632) (163) (94) (69) (88) (50) (38) (1,201) (35) (20) (15) (19) (11) (8) (57) (0) (0) (0) (0) (0) (0)
Growth Capacity Interims-Utilization 2,072 1,036 518 518 1,036 518 518 271 135 68 68 135 68 68 280 140 70 70 140 70 70
Group / Holding Expenditures 37,362 24,380 13,420 10,960 12,982 7,679 5,303 23,632 15,389 8,460 6,928 8,243 4,886 3,357 16,047 10,267 5,615 4,653 5,779 3,370 2,409
Extraordinaries 222 150 83 67 72 44 28 85 57 32 25 28 17 11 (3) (2) (1) (1) (1) (1) (0)
Changes in Working Capital
Funds from Operations Growth (YoY)180.16% 166.07% 162.54% 170.00% 194.24% 187.44% 202.36% 1,064.13% 540.44% 403.77% 814.86% (4,442.90%) (4,909.89%) (3,992.17%) (413,041%) (989,105%) (1,315,78%) (660,580%) 100,257% 98,125.17% 102,405%
Tax 99,787 62,660 26,962 35,697 40,518 20,309 20,005 34,323 24,647 8,399 16,248 10,900 5,857 5,043 4,175 8,241 8,780
-
538
-
4,106
-
2,090
-
2,016
Net Operating Cash Flow 1,096,432 631,297 333,269 298,027 478,457 254,648 224,013 382,366 229,696 125,333 104,362 161,430 87,474 73,956 17,859 23,727 13,888 9,889
-
5,688
-
3,251
-
2,437
Net Operating Cash Flow Growth186.75% 174.84% 165.91% 185.57% 196.39% 191.11% 202.90% 2,040.98% 868.08% 802.47% 955.32% (2,938.13%) (2,790.89%) (3,134.33%) 16,662.44% 24,936.35% 16,017.34% 114,808% (56,822%) (55,873%) (58,144%)
Elaborated Group Guidance: Cash Flow from Operations
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 27
All values in million USD 2021 2020 2019
FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1
Security Gains and Prop Trading 162,575 102,662 54,442 48,220 59,912 37,153 22,759 58,568 37,163 20,043 17,120 21,405 12,456 8,949 5,129 4,324 3,215 1,109 804 720 84
1,278 862 479 383 415 256 160 418 282 157 125 136 84 52 23 16 9 7 8 5 3
Capital Expenditures (Fixed Assets) 196,964 55,580 28,661 26,919 140,745 24,901 115,844 27,473 13,094 7,007 6,087 13,943 5,144 8,799 16,538 9,377 5,032 4,344 6,999 3,683 3,316
Capital Expenditures (Other Assets) 34,987 19,154 10,223 8,931 13,760 7,388 7,564 12,956 7,460 4,014 3,445 5,279 2,843 2,436 2,722 2,023 1,212 811 699 390 309
Net Assets from Acquisitions
Sale of Fixed Assets & Businesses 653 380 199 181 273 150 123 228 131 68 62 97 53 44 17 15 14 2 2 1 1
Purchase/Sale of Investments - - - - - - - - - - - - - - - - - - - - -
Purchase of Investments - - - - - - - - - - - - - - - - - - - - -
Sale/Maturity of Investments - - - - - - - - - - - - - - - - - - - - -
Strategic Investments / Acquisitions 36,127 36,127 36,127 53,458 49,865
PMI Costs 5,419 5,419 5,419- - - -
24,056- - - - - -
7,480- - - - - -
Funds from Strategic Investments 5,115 5,115 5,115- - - -
(46,399)- - - - - -
(11,210)- - - - - -
Data and BI Tech 2,217 (33,345) (11,115)
Investor Relations Tech 1,770 1,770 1,770 (11,987)
Governance Tech 1,329 1,329 1,329 (1,035) (20)
Other investments (201) (201) (201) (32) (75)
Mount Wish Corporate VC Fund (9,023) (9,023) (9,023) (1,000)
Increase in Loans
Decrease in Loans
Other Uses
Other Sources 59,434 59,434 59,434
Net Investing Cash Flow (54,742) 42,288 29,738 12,550 (94,320) 5,015 (100,526) (106,548) 16,740 9,090 7,650 2,280 4,522 (2,242) (82,670) (7,060) (3,015) (4,044) (6,892) (3,352) (3,540)
Elaborated Group Guidance: Cash Flow from Investing Activities
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 28
All values in million USD 2021 2020 2019
FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1 FY H2 Q4 Q3 H1 Q2 Q1
Cash Dividends Paid - Total 124,223 70,600 36,126 34,474 57,251 29,398 27,634 35,021 20,432 11,472 8,959 15,899 8,406 7,493
Common and Class B Dividends 124,223 70,600 36,126 34,474 57,251 29,398 27,634 35,021 20,432 11,472 8,959 15,899 8,406 7,493
Preferred Dividends
Decrease in Deposits
Increase in Deposits
Change in Capital Stock
Repurchase of Common & Preferred
Stk.
Issuance of Convertible Bonds
treated as equity 24,000
Convertible Bond Buybacks 88,526
Sale of Common & Preferred Stock 80,000 16,000
Proceeds from Stock Options
Issuance of Securitised Products 26,559 26,559 26,559 3,608 3,608 3,608
Issuance of Long-Term Debt 30,000 30,000 15,000 15,000
LT Debt Interest Expenses 2,685 1,812 1,007 805 873 537 336 1,868 1,261 701 560 607 374 234 590 398 221 177 192 118 74
Reduction in Long-Term Debt 16,700 16,700 16,700 17,550 17,550 17,550
RiskPool Pre-Payments (Unearned
Premiums) 55,164 31,832 16,689 15,144 23,332 12,661 10,671 23,860 12,648 6,699 5,949 11,212 6,205 5,007 4,083 46 3,212 (3,166) 4,037 2,294 1,743
Other Uses
Other Sources 40 20 10 10 20 10 10 1,920 1,632 38 1,594 288 144 144 510 255 128 128 255 128 128
Net Financing Cash Flow (59,159) (28,889) (9,568) (19,320) (33,899) (16,727) (16,953) (31,709) (20,093) (18,677) (1,417) (4,399) (2,058) (2,341) 74,593 301 3,340 (3,039) 34,292 17,422 16,870
Elaborated Group Guidance: Cash Flow from Financing
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 29
Mark-Up Matrix (Likelyhood that if we are
selling the below we are also selling the
right item)
RiskPoolRock+
Water
Market-
places FundMasterFinCaT BiSure
FinTelligence
Data
FinTelligence
Advisory
Plattform
as a ServiceOther
Uncon-
silidated
Other
Aggregated
Markup
Factors
RiskPool 0.00 0.98 0.50 0.65 0.20 0.35 0.00 0.00 0.10 0.20 3.43
Rock+Water 0.50 0.00 0.10 0.25 0.65 0.10 0.50 0.10 0.22 2.59
Marketplaces 0.00
FundMaster 0.65 0.10 0.00 0.70 0.20 0.30 0.00 0.10 0.00 0.40 2.45
FinCaT (incl. White Bank) 0.75 0.20 0.20 0.00 0.20 4.00 0.00 0.00 0.10 0.18 5.63
BiSure (incl. unconsildated income from
Digital Fineprint) 0.05 0.05 0.10 0.00 0.50 0.00 0.00 0.00 0.03 0.73
FinTelligence Data 0.20 0.08 0.05 0.08 0.02 0.00 0.00 0.00 0.10 0.12 0.69
FinTelligence Advisory 0.65 0.20 0.20 0.20 0.05 0.90 0.00 0.25 0.00 0.01 2.61
Plattform as a Service (incl. unconsildated
income from figo) 0.75 0.25 0.25 0.20 0.05 0.35 0.00 0.00 0.10 0.95 3.07
Other 0.99 0.70 0.03 0.05 0.02 0.15 0.00 0.05 0.00 0.01 2.03
Unconsildated / Other 0.05 0.03 0.10 0.10 0.00 0.20 0.00 0.05 0.00 0.60
Aggregated Markdown Factors 4.59 2.51 1.48 2.33 0.74 7.40 0.10 0.95 0.50 2.11
Cross-Selling Effects
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 30
Central Sales and Relationship Management Unit Calculation 2021 2020 2019
Central Sales Commission and Fee Income 33,301 15,858 91
Additional Sales Boni 1,524 967 221
Sales Employee Expenses 1,079 626 179
Travel, Meeting and Entertainment Expenses / Relationship Management 996 478 177
Partnership Management FIG 418 211 63
Relationship Management Expense Growth 1 2
Sales Material Expenses 529 137 16
Sales Operation Expenses 187 62 9
Sales Other Expenses 416 229 94
Total Costs 38,450 18,357 787
Share
RiskPool 11,908 5,686 244
Rock+Water 1,458 696 30
Marketplaces - - -
FundMaster 2,984 1,424 61
FinCaT (incl. White Bank) 2,285 1,091 47
BiSure (incl. unconsildated income from Digital Fineprint) 1,247 595 26
FinTelligence Data 11,557 5,518 236
FinTelligence Advisory 4,290 2,048 88
Plattform as a Service (incl. unconsildated income from figo) 278 133 6
Other 2,381 1,137 49
Unconsildated / Other 62 30 1
Central Sales Calculation
All values in million USD
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 31
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure and Organizational Chart
10. Appendix
- 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000
Price / Embedded Value
Embedded Value Method
Regression Analysis II…
Regression Analysis I…
Regression Analyses
DDM
DCF Model (capped at twice the 75th quartile of other unrelated valuation methods)
Discounting Methods
EV
EV/EBITDA
EV/AUM
Enterprise Value-based Methods
P/BV
P/CF
P/S
P/E
Public Comparables Range
Median Range
Average Range
Combined and Weighted Range
Valuation bandwidths in million USD based on 2019 figures (excl. outliers)
April 19 32Mount Wish Corporation | Guidance 2019 – 2021 | New York
Combined & Weighted
1,236,576.10
Overall Median
1,499,736.80 Overall Average
1,732,635
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 33
We target a valuation which lies within the “Combined and Weighted” range
All values in million USD Minimum (25th quartile) Median Average Maximum (75th quartile)
Public Comparables Range 60,653 824,842 578,000 1,589,031
P/BV 60,653 305,122 182,953 305,254
P/CF 221,701 360,100 433,946 646,192
P/S 394,010 1,170,853 991,521 1,589,031
P/E 525,935 634,501 703,579 881,223
Enterprise Value-based Methods 741,438 1,863,204 1,822,375 2,984,970
EV 1,058,110 1,650,651 1,816,563 2,575,016
EV/EBITDA 741,438 1,545,602 1,863,204 2,984,970
EV/AUM 847,249 1,545,602 1,787,359 2,727,468
Discounting Methods 961,370 3,323,930 2,831,027 5,686,490
DDM 961,370 1,499,737 1,650,480 2,339,589
DCF Model (capped at twice the 75th quartile of other unrelated
valuation methods) 2,336,658 3,645,186 4,011,574 5,686,490
Regression Analyses 97,408 2,220,946 1,946,205 4,344,485
Regression Analysis II (P/BV vs RoAE); discounted 3,211,141 3,777,813 3,777,813 4,344,485
Regression Analysis I (Net Flows) 97,408 114,597 114,597 131,787
Embedded Value Method 3,135,522 4,479,316 5,061,628 6,987,734
Price / Embedded Value 3,135,522 4,479,316 5,061,628 6,987,734
Other 86,024 129,049 129,043 172,062
Multiples – (Debt + Preferred Equity) / Total Capital 86,024 129,049 129,043 172,062
Overall Median 741,438 1,499,737 1,650,480 2,339,589
Overall Average 1,052,094 1,604,472 1,732,635 2,413,177
Combined and Weighted 810,664 1,236,576 1,271,927 1,733,189
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 34
Valuation over time in million USD
-
50,000,000
100,000,000
150,000,000
200,000,000
250,000,000
2019 2020 2021
Median Combined & Weighted
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 35
Weighted and Combined Valuation Details
Method Typically used for: 25th quartile Median Valuation 75th quartile
P/BV Banks and insurance firms 60,653 305,122 305,254
P/CF Broker / dealers, exchanges and marketplaces 221,701 360,100 646,192
P/S Tech Industry 394,010 1,170,853 1,589,031
P/E All types of companies 525,935 634,501 881,223
EV/EBITDA FinTechs, broker / dealers, csset managers 741,438 1,545,602 2,984,970
EV/AUM Asset management companies 847,249 1,545,602 2,727,468
DDM Banks, insurance and specialty finance firms 961,370 1,499,737 2,339,589
DCF Model (capped at twice the 75th quartile of other unrelated methods) Broker / dealers, exchanges and marketplaces 2,336,658 3,645,186 5,686,490
Regression Analysis II (P/BV vs RoAE); discounted Banks and insurance companies 3,211,141 3,777,813 4,344,485
Regression Analysis I (Net Flows) Asset management companies 97,408 114,597 131,787
Price / Embedded Value Insurance companies (especially life insurance) 3,135,522 4,479,316 6,987,734
Multiples – (Debt + Preferred Equity) / Total Capital Insurance companies 86,024 129,049 172,062
CategoryMethods to be
considered
Total weight per
category
Weight per
method
25th quartile
valuation
Median valuation
relative to category
weight
75th quartile
valuation
Mixed Tech, Financial
Information, BI, Data: 1 4.95% 4.95% 29,694.67 35,824.42 49,754.48
Internet Market Places: 2 26.52% 13.26% 125,204.98 245,709.58 336,202.66
FinTech: 3 12.40% 4.13% 68,670.53 138,506.19 225,482.57
Exchanges: 4 11.09% 2.77% 106,068.41 171,489.93 282,763.79
Banking: 4 12.20% 3.05% 139,318.97 182,002.99 230,404.33
Insurance 6 22.66% 3.78% 289,252.79 392,363.99 502,553.30
Asset Managers: 3 3.86% 1.29% 20,897.90 32,608.92 53,154.19
Commodities: 1 6.00% 6.00% 31,556.09 38,070.08 52,873.36
Valuation 810,664.33 1,236,576.10 1,733,188.67
All values in million USD
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 36
WACC
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 37
Capitalization Table
Share class
Overview ESOP Reserve Sales Option Pool Reserve
Pre-Seed Investors
(voting rights controled by the founder via proxy
agreement)
Founder
(90% held of his shares are held via the Wunsch Foundation
and 10% via Wish Ventures, LLC)
Votes per
share
Authorized
stock Issued stock
t/o out-
standing
shares
thus voting
rights
outstanding
sharespercentage
held per class
equals voting
rights of
Economic
valueshares
percentage
held per class
equals voting
rights of
Economic
valueshares
percentage
held per class
equals voting
rights of
Economic
valueshares
percentage
held per class
equals voting
rights of
Economic
value
Common 1 5,000,000 2,500,000 2,500,000 2,500,000 1,000,000 40.00% 3.64% 20.00% 250,000 10.00% 0.91% 5.00% 100,000 4.00% 0.36% 2.00% 1,150,000 46.00% 4.18% 23.00%
Founder
Shares10 5,000,000 2,500,000 2,500,000 25,000,000 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2,500,000 100.00% 90.91% 50.00%
Totals 10,000,000 5,000,000 5,000,000 27,500,000 #REF! 3.64% 20.00% #REF! 0.91% 5.00% #REF! 0.36% 2.00% #REF! 95.09% 73.00%
Pre-Money 2,750,000 500,000 550,000 23,700,000
Median 1,499,736 299,947 74,987 29,995 1,094,807
Weighted
Valuation1,236,576 247,315 61,829 24,732 902,700
New Investors (We are raising 16B USD in 2019 and 80B USD in 2020)
New Common
Shares Issued 388,169
Diluted
Economic
Value
7.20% 18.56% 4.64% 1.86% 67.74%
Diluted Voting
Rights1.39% 3.59% 0.90% 0.36% 93.77%
Value of share 96,000 247,326 61,832 24,786 902,687
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 38
Recent studies show that dual-class structures might be optimal in certain scenarios.
Firms with growth opportunities as well as the need for external equity financing often convert to dual-class shares or in transformative phases. And it has to be noted that aggressive-growth and family-
controlled dual-class companies display higher long-term shareholder returns.
This said, MSCI’s recent analysis shows that unequal voting stocks outperformed the market over the period from November 2007 to August 2017.
Some of the largest companies of recent times by market capitalization, such as Facebook, Alphabet, and Alibaba, carry dual class-shares. So do some older, family-controlled firms, such as Ford Motor Co.
and The New York Times Co.
Alphabet, Under Armour, Blue Apron, and Snapchat have taken this practice to an extreme by offering common shares with zero voting rights. Yet, investors price Alphabet’s Class C stock, which carries no
voting rights, almost no differently than Alphabet’s Class B stock, which carries voting rights. Investors’ continued clamor for inferior-voting shares, even those with zero voting rights, suggests there must be
some economic reason for their existence.
Indeed the use of dual-shares has been growing recently: One-fifth of companies that listed on U.S. stock exchanges last year had dual-class shares.
Almost 50% of recent technology listings have a dual-class status. HBS explored reasons for the growing use of the dual-class structure in an case study among technology companies. Their nickel summary
is that their growing popularity is due to the increasing importance of intangible investments, the rise of activist investors, and the decline of other protection mechanisms available to existing management
such as staggered boards and poison pills. A dual-class structure, offering immunity against proxy contests initiated by short-term investors, could be optimal if it enables founder-managers to ignore
pressures from the capital markets and avoid myopic actions such as cutting research and development and delaying corporate restructuring.
Source: Harvard Business Review
The benefits of dual class share structures from a long-term investor perspective
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 39
Fully diluted voting and economic rights pre and post targeted funding
ESOP; 3.64%Sales Option Plan
; 0.91%
Pre-Seed
Investors; 0.36%
Founder; 95.09%
New Investors;
1.39%ESOP; 3.59%
Sales Option Plan
; 0.90%
Pre-Seed
Investors; 0.36%
Founder; 93.76%
New Investors;
7.20%
ESOP; 18.56%
Sales Option Plan
; 4.64%
Pre-Seed
Investors; 1.86%
Founder; 67.74%
ESOP; 20.00%
Sales Option Plan
; 5.00%
Pre-Seed
Investors; 2.00%
Founder; 73.00%
Pre funding Post funding
Voting rights
Economic rights
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 40
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 41Mount Wish Corporation | Guidance 2019 – 2021 | New York
5% Initiative
Starting January 2019 all future customers will now per contract be required to give at least 5% of the cost savings achieved with our products to social causes.
This means that by 2021 more than 250 billion USD will go to charity via this initiative alone.
-
50,000
100,000
150,000
200,000
250,000
300,000
2019 2020 2021All values in million USD
April 19 42Mount Wish Corporation | Guidance 2019 – 2021 | New York
RiskPool credits and preferred conditions:
Use of network effects in favor of those who need it:
Our pledge is that we will use at least 1% of our
long-term sustainable EBIT until reaching 10bn EUR
in profits. Thereafter the amount shall increase to 5%
and upon reaching 100bn EUR to 10%. The amounts
shall be granted as in-kind-giving (RiskPool credits
and preferred rates) to selected social enterprises
and organizations.
Charity program:
Mount Wish will additionally and under the same
conditions donate an amount equal to at least 10%
of the previously mentioned in-kind giving to various
charities.
The final charities in this case shall be chosen by our
employees.
Other CSR initiatives
Transformative redundancy program:
As our solution will cost many jobs due to the
high degree of automation we will team up with
well-known consulting and coaching firms to help
every new customer or business partner in
managing the difficult transition in terms of
finding new and attractive career and live paths
for the then in their prior role no longer needed
employees.
Financial Literacy:
Mount Wish is dedicated to enhancing financial
literacy especially among young people since we
think that it is absolutely shocking that according
to a recent OECD study a huge part is still
insufficiently educated with regards to financial
questions. Well, we are not talking about
analysing the most complex financial instruments
here but about the absolute basics needed today.
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 43
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
With increasing international scale we are able to offset a growing volume of contrary risk positions and hence we can set more and more long-term FX and interest rates as well as commodity prices which again
stabilizes financial markets.
The latter goes so far as to enable us to help central banks and governments to entirely mitigate financial crises by finding, assuming and netting falling and surging risk positions across various countries, industries and
customer company stages and as a result to give our customers the aforementioned long-term and reliable rates in exchange for a small percentage (currently 1.94% and declining over time) of their revenues which is
still a lot cheaper then they could hedge these market risk on their own (2.86%).
With increasing size we are also put in a position to drive a socially accepted change from old to new industries since we become the institution bearing the spread and making the market between the two different
required rates. Higher rates will drive creative destruction and hence benefit younger, innovative companies while low interest rates drive asset prices and keep a lot of “zombie” companies alive. It is also a chance to
end Quantitative Easing (QE) and thus bring equity funding volumes and rates together again and hence get back to normality where central banks can take effective actions again.
Achieving the mission of the International Monetary Fund (IMF) – Financial Markets Stability
April 19 44Mount Wish Corporation | Guidance 2019 – 2021 | New York
Since customers with RiskPool do no longer have to worry about FX rates they can expand and trade more easily across borders which again will foster the global exchange of goods and services and hence lead to
sustained growth for all.
It might over time even be possible to approach real free trade with fair rates targeting hegemonistic actions since free trade increases prosperity for the citizens of all participating nations by allowing consumers to buy
more, better-quality products at lower costs. It also drives economic growth, enhanced efficiency, increased innovation, and the greater fairness that accompanies a rules-based system. These benefits increase as
overall trade—exports and imports—increases.
Achieving the mission of the International Monetary Fund (IMF) – International Trade
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 45
The longer-term we can set the FX and interest rates as well as commodity prices by assuming the risks from all parties the more sustainable becomes the entire economy as market risk become quasi-extinct or at
least very limited.
Beyond this, we can act with increasing size like an independent global central bank and thus set terms on our platform benefitting society as a whole and thus drive sustainable growth as we bear all financial risks.
It will also drive a socially accepted change from old to new industries since we become the institution bearing the spread and making the market between the two different required rates as the current monetary
policy and system alone can’t serve both interests.
Achieving the mission of the International Monetary Fund (IMF) – Sustainable Economics
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 46
Poverty alleviation and fair market access happens via two aspects:
First RiskPool is allowing entrepreneurs in developing and emerging markets to tap into abroad funding more easily since they do no longer have to spend insane amounts on hedging FX rates which again leads to
the effect that their national interest rates adjusts to and stabilizes at a more global level as well and hence their overall economy will grow. This again contributes to the aforementioned international trading activity.
Secondly, it happens via our complementary yet seamlessly in RiskPool integrated market places (FinCaT, FundMaster, BiSure, etc) allowing them to interact more easily with banking, insurance and finance partners
around the world more easily and hence really receive the best solution for their needs on the market.
Achieving the mission of the International Monetary Fund (IMF) – Poverty Alleviation
April 19 47Mount Wish Corporation | Guidance 2019 – 2021 | New York
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 48
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
By assuming all financial risks and netting them across customers, regions and industries and providing
open and transparent financial services marketplaces we deliver an important part of peacekeeping since
global inequality and hence migration and war is a result of current financial policy and limitations acting
in a hegemonistic, counter-innovative and old-industry-focused manner. Thus low interest rates are
neither in the interest of creative destruction nor international trade where countries exchange goods
based on their specific strengths and consequently grow their economies.
Instead current politics have led to an asset bubble.
Hence RiskPool in combination with its complementary marketplaces can help to drive global trade and
innovation while hedging current terms for its mature-industry customers and where necessary make a
market between the needs of these different stakeholders.
This said our solution will lead to economic growth in critical regions and hence help to solve migration
crises and distribution wars since it will benefit younger, innovative industries in established countries as
increased global trade tends to compromise older industries which are consequently moving to these
emerging markets. Over the long run we will see that conditions and industrial bases harmonize globally
and hence the key differentiator will be innovation only.
At the same time it buys industrialized countries sufficient time to adapt (forcing them into the required
change) without hurting the growth of developing countries. Beyond this, long-term global harmonization
will be a driver to sustainable and modern social policies as required with increasing automation.
Thus we will provide the way into an innovation-driven world with socially fair and inclusive conditions for
all.
This said, our solution and thus contribution to global peacekeeping and fighting extremism will be even
more important in the upcoming financial crisis as this crisis otherwise might have the potential to give
rise to global security and social issues by worsening general conditions for large parts of the global
population. With regards to all customers (no matter where they are or what they do) our solution will also
help them to get better through the next financial crisis as major risks are born by us and netted on a
macro-level which means that they do not have to worry about extreme volatility or plummeting markets.
The macro-level risk pooling and netting will also help to keep financial markets a lot more stable in
general and thus make it more unlikely to see extreme financial crises. .
Hence we can achieve the mission of the UN, IMF and World Bank with a far higher degree of efficiency
and efficacy.
Beyond this, our unique access to data at large scale paired with world-class analytics capabilities enables
us to work with security and intelligence agencies to detect and fight criminal activities.
A fair and sustainable game plan to normalize and stabilize financial markets is key to global peace
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 49
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 50
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 51
RiskPool: Enjoy the advantages of the worlds very first true and fully automated FICC risk insurance
NETWORK EFFECTS
EBITDA boost
Significant network effects and scale-based savings resulting
from our cross-customer hedging and netting approach as
well as partially from the insurance asset management
contribution increase your EBITDA by up to 12% p.a. (i.e. our
risk pooling process resulting in strong network effects)
which again is equal to an increase of 16% in sales. Add to
this selected commodity upsides, e.g. various sorts of steel
or rare earths which thanks to RiskPool become hedgeable
for the very first time, and you might see up to an 80%
annual net profit increase in total. Hence with RiskPool your
EBITDA and net profit will go up sharply.
COMPLIANT
Simple and clean insurance solution.
RiskPool reduces compliance burdens tremendously; just
think of MiFID II, EMIR, KYC checks, and the likes, which for
an insurance policy are no longer applicable from a
customer’s perspective. At the same time you are getting rid
of all potential legal litigations over contract details (e.g.
derivatives pricing) related to hedging transactions.
ERP INTEGRATED
Works with all leading systems.
Our close collaboration with major ERP system providers
ensures a seamless integration and stable processes. For
now RiskPool and our other products work with the
following systems:
CROSS-PRODUCT INTEGRATION
Seamless integration with complementary products.
RiskPool is seamlessly integrated with all other products
(hence our independent marketplaces FundMaster, FinCaT
and BiSure) including those provided by third parties since
this way we can achieve the maximum utility for you. Thus
cross-border transactions and financings or other
international finance solutions won't be a complex or
challenging issue anymore.
AUTOMATION
No treasury department needed anymore.
Enjoy an increased focus on your core business with
automation taking all the financial risk management hassles
(e.g. now being able to go global without worrying about FX
rates) and potential human errors out while the use of
artificial intelligence and the business model inherent
insurance asset management contributions are improving
results further.
WHOLISTIC APPROACH
Counterparty risk and overlay effect optimized.
Our approach is wholist since the algorithms account for
FICC and other non-FICC-related overlay effects reducing
costs further and effectively mitigate counterparty risk since
all risks are pooled (broader base in counterparties
compared to single-party derivative transactions) and hence
as outlined before only the post-netting residual risk needs
to be hedged with derivatives which has another advantage
namely a significant reduction in financial institution
counterparty risks which is an important aspect considering
recent market conditions.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 52
TECHNICAL OVERVIEW:
1. Real-time tracking of exposures via ERP system plugins
2. Immediate transfer of identified exposures from the customers balance sheet to our own one
(insurance pool)
3. Maximising total utility: Automatic rate, duration and volume setting (price optimisation considering
real costs – incl. point 4 prev. months results – and customer benefits) and global netting process (“across
customers, regions and industries” -> economic zero-sum game in FICC markets)
4. Hedging of residual risks (incl. overhedging) and market making as appropriate
5. Calculation of premiums depending on applicable risk classes, insurance asset management
contribution, exposure transferred and mentioned real costs
6. Annual calculation and redistribution of excess premiums paid based on our 2.25% initial invoice and
actual results. (Please note that our 2.25% payment terms come with a capped gross margin agreement
and refund policy comparable to a traditional mutual insurance. Also not that the average company
currently spends around 2.86% of their revenues on financial risk management as per a 2017 KPMG study
and hence our charge of 2.25% is already quite a bit cheaper. Prices will improve over time with growing
scale.)
RiskPool: How our core product works
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 53
RiskPool: Annual Recurring Gross Premiums (ARGP)
2016 2017 2018 2019 2020 2021
New Contract Values (ARGP) 913 15,204 44,285 298,169 771,051 1,551,947
Aggregated Contract Values (ARGP) 913 16,117 60,402 358,571 1,129,622 2,681,569
Gross Premiums Collected 176,098 1,061,349 2,519,135
Unearned Premiums Collected 758 11,891 44,380 113,448
0
500000
1000000
1500000
2000000
2500000
3000000
All values in million USD
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 54
RiskPool: Growth Curve
1665%
275%
494%
215%
137%
2016 2017 2018 2019 2020 2021
Growth rate Expon. (Growth rate)
Novelty wearing off while we are
working towards the launch and the
clearance of regulatory hurdles.
Sales on the other hand benefit from
our new referral marketing campaign
and growing media attention
TechCruch of Innovation =
extraordinary growth and early
adopters
Actual launch (in Q3 2019) and partially
the IPO (Convertible Bond round in Q2
2019 and Listing in 2020) along with
increased marketing spend are pushing
customer interest up and thus creating a
quasi second TechCrunch of Innovation
Effect
Growth starts to normalize and
thus falls below the 200% rate
for the first time
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 55
RiskPool: Profit / Loss Statement
All values in million USD 2,021 2,020 2,019 2,018 2,017 2,016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Standardised FICC business
Insured Volume 242,971,576 104,746,350 58,227,912 41,594,688 18,483,052
LoIs worth annual premiums of NEW
ACQUISTIONS 1,551,948 902,458 771,050 448,366 298,169
LoIS total annual gross premiums 2,681,569 2,032,079 1,129,622 806,937 358,571
Total Addressable Market Share 23% 10% 3%
Market Share w/o FIG 49% 22% 7%
Gross Premiums Paid 2,190,206 924,974 982,514 404,139 151,111
Gross Premiums Paid Growth YoY 123% 129% 550%
Netting Quota 89% 80% 72%
Hedging Costs 759,017 320,550 340,836 140,197 53,200
Overhedging 151,803 64,110 85,209 35,049 21,280
Reserves 219,021 92,497 103,164 42,435 16,622
Insurance Taxes 349,697 147,685 156,872 64,526 24,127
Central Sales Fees 10,353 5,263 209
Partner Sales Commissions 20,533 8,672 18,422 7,578 7,933
Deferred Acquisition Costs 10,267 4,336 9,211 3,789 3,967
Net Premiums 669,515 287,124 263,537 110,566 23,773
Gross Marging Pre-Redistribution
Agreement 31% 27% 16%
Average Gross Margin Cap Agreement 20% 15% 13%
Redistributions 226,390 95,609 112,547 46,294 4,340
Effective Premiums Paid 1,963,816 829,364 869,967 357,845 146,771
Effective Premiums Paid Growth YoY 126% 493%
Effective Customer Pricing 1% 1% 2%
Cost savings for customers 4,985,171 2,105,350 795,352 327,154 51,460
5% social responsibility rule 249,259 105,268 39,768 16,358 2,573
Net Premiums post redistribution 443,125 187,142 150,990 62,107 19,433
Net Premium post redistribution
growth YoY 193% 677%
Net Marging Growth YoY 32% 20%
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 56
RiskPool: Profit / Loss Statement
.All values in million USD 2,021 2,020 2,019 2,018 2,017 2,016
FY H1 FY H1 FY H1 FY H2 FY H3 FY H4
Synthetic Commodity Hedges (e.g.
Mixed Steel)
Insured Volume 8,504,005 3,666,122 2,037,977 1,455,814 646,907
Gross Premiums Paid 328,340 138,665 78,686 32,366 24,977
Netting Quota 56% 47% 40%
Hedging Costs 135,257 57,122 41,744 17,171 14,986
Overhedging 27,051 11,424 9,393 3,863 2,997
Reserves 32,834 13,867 7,869 3,237 2,498
Insurance Taxes 52,424 22,140 12,563 5,168 3,988
Central Sales Fees 1,552 422 35
Partner Sales Commissions 3,078 1,300 1,475 607 1,311
Deferred Acquisition Costs (Equity
Incentive -> Sales Option Pool) 1,539 650 738 303 656
Net Premiums 74,604 32,162 4,483 2,017 (1,494)
Gross Marging Pre-Redistribution
Agreement 23% 6% -6%
Average Gross Margin Cap Agreement 30% 25% 20%
Redistributions
Effective Premiums Paid 328,340 138,665 78,686 32,366 24,977
Effective Customer Pricing 0 0 0
Cost savings for customers 76,613 32,355 18,360 7,552 5,828
5% social responsibility rule 3,831 1,618 918 378 291
Net Premiums post redistribution 74,604 31,507 4,483 1,844 (1,494)
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 57
RiskPool: Profit / Loss Statement
.All values in million USD 2,021 2,020 2,019 2,018 2,017 2,016
FY H1 FY H1 FY H1 FY H2 FY H3 FY H4
Magma (Cryptocurrencies)
Insured Volume 11,776 4,973 2,985 1,228 207
Market Share (Addressable Market) 37% 13% 1%
Gross Premiums Paid 589 249 149 61 10
Netting Quota 32% 21% 4%
Hedging Costs 32 13 9 4 1
Overhedging 21 9 7 3 1
Reserves 147 62 37 15 3
Insurance Taxes 94 40 24 10 2
Deferred Acquisition Costs - Partner
Sales 7 3 7 3 1
Central Sales Fees
Net Premiums 287 121 64 26 3
Gross Marging Pre-Redistribution
Agreement 49% 43% 33%
Average Gross Margin Cap Agreement 40% 45% 50%
40% 43% 33%
Redistributions 51 22- - -
Gross Premiums Paid 538 227 149 61 10
Effective Customer Pricing 4.60% 5.00% 5.00%
Cost savings for customers 463 196 104 43 7
5% social responsibility rule 23 10 5 2 0
Net Premiums post redistribution 236 99 64 26 3
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 58
Share of FX, interest rate, commodity and energy price hedges on average 2019 – 2021
42%
24%
33%
1%
34%
FX Interest Rates Commodities Energy
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 59
RiskPool: Profit / Loss Statement
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Total Insured Volume 251,487,357 108,417,446 60,268,875 43,051,730 19,130,165
Total Cost Savings 5,062,246 2,137,901 813,816 334,749 57,295
Total 5% social clause 253,112 106,895 40,691 16,737 2,865
Total Gross Premiums 2,519,135 1,063,888 1,061,349 436,567 176,098
Total Net Premiums 517,964 218,748 155,536 63,977 17,943
Unearned Premiums Paid 113,448 47,983 44,380 17,891 11,891 4,037 758 87
Employee and Labour Costs 370 156 280 115 200 82 15 2 0 0 0 0
Biz Development 1,914 808 1,155 475 660 272 23 1 0 0 0 0
Office Rent 25 12 24 12 23 11 11 1 0 0 0 0
Equipment Expense 6 3 6 2 6 2 9 1 0 0 0 0
IT Costs 22,404 9,462 5,369 2,208 1,704 701 152 17 0 0 0 0
Other Operating Expense 4,944 2,088 1,185 487 376 155 15 2 0 0 0 0
R&D (e.g. A&B Testing of new
modules) 20,719 8,750 4,965 2,042 1,576 648 421 48 0 0 0 0
Legal and Lobbying Expenses 15,539 6,562 4,282 1,762 2,719 1,118 15 2 0 0 0 0
Marketing & Brand 3,425 1,446 972 400 648 267 38 4 0 0 0 0
Advisory Expenses and Outsourced
Labor 10,685 4,513 2,578 1,060 1,289 530 11 1 0 0 0 0
Extraordinaries - -
Profit / Loss from Operations 437,934 184,947 134,719 55,412 8,742 (3,786) (711) (79) (0) 0 0 0
Net Operating Margin 17.40% 17.40% 12.70% 12.70% 5.00%
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 60
RiskPool: Cash Flow Statement
All values in million USD 2021 2020 2019 2018 2017 2016
FY FY FY FY FY FY
Standardised FICC business 838,676 353,822 407,191 169,446 44,927-
Synthetic Hedging Business 123,990 52,364 16,822 6,919 2,843-
Magma 458 194 108 44 7
Operational Expenses 36,165 15,275 10,193 4,195 5,637 2,320 142
Gross Operating Cash Flow 1,026,226 433,090 452,759 187,870 51,333 (0)
Changes in Working Capital (140,932) (60,739) (91,947) (45,687) (19,123)
Net Operating Cash Flow 885,294 372,350 360,812 142,184 32,211 (0)
Investing Activities
Total Capital Expenditures 40,883 16,391 9,301 3,826 2,953 1,215 516 59 0
Capital Expenditures and R&D 20,719 7,875 4,469 1,838 1,418 583 379 43 0
Capital Expenditures (Fixed Assets) 20,164 8,516 4,833 1,988 1,534 631 137 16 0
Capital Expenditures (Other Assets)
Sale of Fixed Assets & Businesses 604 248 192 79 17 2 0
Net Investing Cash Flow (40,278) (16,142) (9,110) (3,747) (2,936) (1,213) (516) (59) (0)
Financing Activities
Increase in Prepayments 113,448 47,983 44,380 17,891 11,891 4,037 758 87
Decrease in Prepayments 56,724 23,992 19,208 5,964 6,596
Interests on Pre-Payment Program 1,560 660 1,312 716 1,213
Prepayment Program Cash Flow 55,164 23,332 23,860 11,212 4,083 4,037 758 87
Net Financing Cash Flow 55,164 23,332 23,860 11,212 4,083 4,037 758 87
Free Cash Flow 900,180 379,540 375,562 149,648 33,358 2,824 242 28 (0)
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 61
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure and Organizational Chart
10. Appendix
Rock+Water, LLC: Strong positioning among competitors with strategic focus shown in blue
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 62
BROAD
PRODUCT
BREADTH
NARROW
AFFILIATED DISTRIBUTION OPEN
DISTRIBUTION POWERHOUSE
Mount Wish has solid access to various financial institutions thanks to our marketplace products
FundMaster, FinCaT and BiSure as well as FinTElligence Data sales.
SOLUTION PROVIDER
Mount Wish as the Go-To-Provider for Insurance Asset Management and
investors with comparable requirements as we can leverage our broad multi-
asset expertise which is also required to provide RiskPool in an efficient manner.
Beyond this we offer a high degree of diversification by combining Funds-of-
Fund and proprietary asset management approaches while expanding the latter.
BETA FACTORY
Focus on liquidity and risk levels of
investments as per regulation given as is
operating scale due to RiskPools
tremendous growth and hence developing
a robust product pipeline comes natural to
us based on the most comprehensive data
pool and top notch experts across a variety
of relevant fields.
ALPHA SHOP
Mount Wish as leading risk
manager with extensive insights
and know-how on
macroeconomic topics, FICC
business and related areas.
Best in class cost structure to
manage proprietary and
foreign portfolios’ FICC risks
with our very own approach.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 63
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2018 2019 2020 2021
RiskPool Free Cash Flow Third Parties Planned Acquisitions Potential Acquisitions
Rock+Water, LLC: AuM and Portfolio Mix
Equities and Equity Derivatives*
Fixed Income and FI Derivatives*/**
Real Estate and Direct Infrastructure Investments (Bricklane Capital, LLC)
Private Equity and Venture Capital (FoF)
Commodities
FX
Corporate Art
Other (incl. Transport Finance)
* includes active and passive investment strategies
** includes our Micro-Finance Fund
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 64
Rock+Water, LLC: Headquartered in Greenwich, CT we face strong growth perspectives
By 2021 and mainly driven by RiskPool insurance funds we will become…
… the 17th largest Asset Manager worldwide if measured by AuM (1,964B USD)
… the fastest growing asset manager globally by funds-raised over a five-year-period
… the largest hedge fund globally by AuM (800-900B USD)
… the largest real estate fund by AuM (196B USD)
… the fastest growing Private Equity fund by AuM growth
… largest commodity fund (41B USD in AuM)
… largest FX trader (42B USD in AuM)
… manage one of the largest Cororate Art funds (35B USD in AuM)
… one of the top 20 preeminent crypto funds (196M USD in AuM)
… the 5th largest infrastructure investor worldwide by AuM (40B USD)
… the worlds largests micro-finance investor (70B USD in AuM)
This said our aim is to become number 1 in all categories by 2024 and hence we will increasingly
start to leverage Rock+Waters strategically perfect location in Greenwich, CT to grow even faster.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 65
All values in million USD 2021 2020 2019 2018
FY H1 FY H1 FY H1 FY H1
Average AUM (w/o M&A deals) 1,964,032 875,603 561,301 319,203 26,222 9,478 234 23
Increase in AUM via RiskPool 115,450 97,445 50,935 42,271 5,775 - - -
RiskPool Cummulative 629,043 362,132 167,241 107,641 23,100 - - -
Free Cash Flow 1,223,726 513,471 394,060 211,562 3,122 9,478 234 23
Third Parties 111,263
Management Fees 14,232 5,007 4,792 1,633 352 34 1 0
Returns 159,882 54,517 54,096 19,796 4,560 620 16 2
t/o RiskPool / Prop Trading 145,974 54,517 54,096 19,796 4,560 620 16 2
Success Fees 31,976 10,903 10,819 3,959 912 124 3 0
Total Fees 46,209 15,911 15,611 5,593 1,264 158 4 0
Central Sales Fee 1,458 696 30
Employee and Labour Costs 151 76 144 72 131 66
Employee Boni 12,791 4,361 4,328 1,584 365 50
Office Rent 4 2 4 2 4 2
Equipment Expense 1 1 1 1 1 1
IT Costs 7 4 6 3 6 3
Other Operating Expense 648 324 224 112 25 13
Legal and Lobbying Expenses 172 86 112 56 53 26
Marketing, Brand, Biz Dev &
Sales 120 60 72 36 1 0
Marketing & Brand Expense
Growth
Advisory Expenses and
Outsourced Labor 38 19 40 20 49 25
Extraordinaries
Profit / Loss from Operations 30,819 10,978 9,983 3,707 599 (27)
Margin 1 1 1 1 0 (0)
Rock+Water, LLC: Income Statement
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 66
All values in million USD 2021 2020 2019
FY H1 FY H1 FY H1
Management Fees 13,411 4,718 4,515 1,539 332 32
Success Fees 29,517 10,065 9,987 3,655 842 114
Total Fees 42,928 14,783 14,502 5,194 1,174 146
Central Sales Fees 1,346 - 642 - 28 -
Employee and Labour Costs 151 76 144 72 131 66
Employee Boni 4,328 1,584 365 50 - -
Office Rent 4 2 4 2 - -
Equipment Expense 1 1 1 1 1 1
IT Costs 6 3 6 3 5 3
Other Operating Expense 189 74 23 6 6 3
Legal and Lobbying Expenses 159 80 103 52 49 24
Marketing, Brand, Biz Dev & Sales 111 55 66 33 1 0
Advisory Expenses and Outsourced
Labor 34 17 36 18 44 22
Cash Flow from Operations 36,599 12,892 13,110 4,958 909 27
Investing Activities
Total Capital Expenditures 10 4 1 0 0 0
Capital Expenditures (Fixed Assets)
Capital Expenditures (Other Assets) 10 4 1 0 0 0
Net Investing Cash Flow (10) (4) (1) (0) (0) (0)
Financing Activities
Prime Brokerage Account Balance 49,284 17,296 5,789 2,230
Reduction in Long-Term Debt
Other Sources
Net Financing Cash Flow 49,284 17,296 5,789 2,230 -
Free Cash Flow 85,873 30,184 18,898 7,188 908 27
Rock+Water, LLC: Cash Flow Statement
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 67
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure and Organizational Chart
10. Appendix
Marketplaces: BCG commentary on recent developments and strategic options
We also believe that it is no longer possible to be all things to all people. Banks can hold key
relationships with some clients and source products as necessary, and they can also maintain a
competitive or pole position in other products. But the days of being both a relationship leader and a
product leader in multiple products are over.
“Indeed, it is better for investment and corporate banks to commit to a few product lines in which they
can gain the pole position and succeed in today’s scale-driven, (often electronic,) winner-takes-all
environment, rather than competing in too many areas and achieving only low, loss-leading market
shares.”
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 68
“The need for major investments in technology in several important markets means
that investment banks are faced with stubbornly high CIRs (CIR = Cost-Income-Ratio).
In cash equities, FX, rates and commodities, for example, CIRs are running
dangerously close to 100 percent. Under the additional weight of not only research
costs but also high brokerage, clearing, and exchange fees (relative to other asset
classes), profits have been severely eroded, bordering on breakeven in most years.”
“The introduction of mandatory derivatives clearing under the European Market
Infrastructure Regulation (EMIR) has been a precursor to wider market change in the
region. As seen in the US, trading venues and alternative liquidity providers will likely
emerge to challenge investment banks and reduce margins. Generally speaking, the
regulatory burden has fallen hardest on FICC, dramatically slowing a traditional driver
of revenues.”
“Further derivatives regulation is set to come online in Europe over the next two
years, further intensifying pressure on the traditional operating model. Several
institutions exited the commodities trading business already in 2014, continuing an
exodus that began two or three years ago, and the few remaining players have
gained revenues and market share as a result. But FICC businesses remain
prohibitively expensive to run, with high front-office, technology, and operating costs.
In foreign exchange (FX), more firms will continue to consider exiting the business or
sourcing from other parties such as larger banks, as liquidity in the G-4 currencies
becomes further concentrated among the leading firms. Thus, for the remaining,
reducing the size of derivatives portfolios has been a particular focus, given that Basel
III imposes a credit valuation adjustment (CVA) charge to address counterparty credit
risk. The more punitive treatment of risk-weighted assets (RWA) under Basel III has
obscured Capital Market and Investment Banking (CMIB) balance sheet reduction
programs. In 2013, for example, banks reduced RWA significantly—but new standards
meant that reported RWA remained more or less the same as in the previous year.”
RiskPool
• A disruptive and market leading solution to cover FICC risks with a real (mutual) and fully automated
insurance
• Significant competitive advantages (strong network effects, first-mover advantage and very high market
entry barriers)
• Integrates perfectly with many of the side products shown on the right
• Established sales partners required to grow equally in all regions worldwide to keep ALM model in
balance and achieve the promised network effects in a short period of time (secures our pole position)
• However, we will expand our direct sales over time and hence increasingly grow into a risk-focused
relationship leader as well
Rock+Water Asset Management
• Initially used as another barter deal option but will be increasingly insourced especially since it’s a scale-
driven business and hence we are in a competitive position (closely related to RiskPool in terms of AuM)
• Solution Provider Strategy: Focused on Insurance Asset Management and investors with comparable
needs
• Due to our massive data sets and broad insights as well as scale resulting from RiskPools high growth we
are also carrying strong Beta Factory traits
• Distribution Powerhouse traits given via our Sales Partner Network (RiskPool and Marketplaces)
• Hence we position us as a “Insurance Asset Management Beta Factory and Solution Provider” who is
increasingly leveraging its access to sales partners to reach customers with comparable needs.
Alpha Shop strategies on the other side are limited.
FinCaT, BiSure, FundMaster
▪ Strength-based customer sharing
(we focus on FICC risks
management and partners on their
strengths like transaction banking,
trade finance, corporate insurance,
corporate finance, etc.)
▪ Complements the FICC risk module
nicely by turning it into a full-
fledged and widely automated
treasury suite
▪ Always bearing in mind a risk
management perspective to protect
our customers (FI counterparty risk,
technical capabilities and market
trends) and help them find the
optimal solution (product-customer-
fit and perfect price)
▪ Sales directly linked to real-time ERP
data (though only RiskPool will get
such comprehensive access due to
its many advantages and thus we
are so far the only ones who can
build and selll such a deeply
integrated and bank independent
Financial Services market place for
enterprise and SME customers)
Further Products and Monetization
▪ FinTelligence
Data-driven information products,
research and advisory based on our
large data pool
▪ Infrastructure as a Service
Helps us to achieve scale effects and
thus to increase profitability further
while also boosting our learning
curve without harming our own
products (errors more wide-spread
across products) and at the same
time strengthens our relationships
with financial institution partners
and hence fosters our position as a
financial services expert and risk
manager (great insights into FS
operations, risks and trends) ->
doing it the Amazon way
▪ Non-Core business
Complements our soltions nicely,
strengthens our position as financial
institutions partner, access to data
and makes risk analyses more real-
time
▪ Metaaccounts and Other
Helps us to reach new customer
segments (primarily white label) and
integrates well with RiskPool
Marketplaces: Hence we decidedly focus on financial risk management and source the rest
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 69
Relationship LeaderProduct Leader Product Leader
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 70
BANKS CUTTING BACK THEIR FICC BUSINESS BANKS W/ STRONG PERFORMING
FICC BUSINESS
BANKS W/ “NO RELEVANT“
FICC BUSINESS
Category 1 2 3 4 5
FICC-wise category International retail and
global lower tier CIBs
(Highly)
Underperforming
Bulge Brackets
Successful Bulge Brackets a) Boutique IBs;
b) Traditional Insurance
Companies, Asset
Managers, other
FinTech-Startups
Local Banks
Why do they not switch
to our business model
themselves?
Losses in the past years, legacy systems, legal issues,
and challenging regulatory environment reduced risk
appetite and capability to try innovating in this area
while at the same time shareholders demand a clearer
focus on the remaining strong business fields outside
the investment banking and markets business.
Change would undermines their current profit rate
quite severely in the short-run; involves a prisoners
dilemma in regards to peers, MNC focus is shifting
increasingly towards FIGs due to better margins (less
efforts in counterparty risk management) and hence
interested in outsourcing many corporate mandates
Regional or other business focus; regulatory challenges;
lack of global size (since global sales in our business is a
must to achieve network effects); lack of specific
expertise to run our business model, protection of own
balance sheet since impact (short-to-mid-run) would be
quite severe in a negative sense for them.
Lack of shareholder support (focus on core business
areas and markets)
Coopetition/Co-
operation based on
which argument?
(Access to their
customers)
They can focus on their core strengths (Transaction
Banking, ABS Servicing, mid-market IB, Credits and
Project Finance,…) and get rid of loss-generating FICC
business; regulatory burdens and challenging financial
positions making it near impossible to gain ground in
the FICC business for these banks especially when
considering our significant first-mover advantage and
recent track record.
Ability to gain access to the global SME market more
easily and drive revenues in key areas while optimizing
cost and risk structures; reduced efforts as the approach
also reduces the number of FICC counterparties;
improved compliance, more business via barter deals
and other initiatives, Sales Option Pool returns,
prisoners dilemma (fear of missing out and hence
loosing – even large – customers in the long run since
other global banks cooperate and thus we are well
positioned to reach scale faster based on partners and
our shorter times to market needed (yround two to
three years head start paired with strong network
effects giving us an unfair advantage which they are
unable to attain in the foreseeable future)
Business extension on
commission basis and
improved deal flow for
own areas.
-> hence low risk income
and more deals
Enhanced access to
international customers
from abroad who couldn’t
be reached so far
Marketplaces: Why don’t other banks try to build RiskPool themselves and copy or strategy
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 71
Marketplaces: Understanding the market
With overall competition picking up and increasing FinTech attacks trying to detoriate commercial lending as
well as commerical and corporate payment revenues it becomes even more critical to banks to have strong
FinTech partners on the digital customer account management side helping to defend the market share in other
core segments (payments, lending, advisory, cash management and partially asset management) where many of
them are strongly positioned from a regulatory and structural perspective but lacking tech-power.
Therefore, partnering with Mount Wish in the RWA heavy and increasingly complex FICC business (winner takes
it all market) makes perfect sense since in return highly attractive (internal perspective with regards to ROE)
products can be sold using the FinCaT market place.
Hence, we will take over FICC risk management where we are exceptionally strong offering a best in-class
customer-centric solution (the unrivaled and hard to catch up with RiskPool) while coopetitors gain access to
our customer-insight-driven financial services marketplace to attract new revenues in areas where they have a
clear competitive advantage in serving our customers wit the optimal solution.
Furthermore, our ERP-System integrated marketplace acts in parts as additional and effective shield against
other FinTech competitors who otherwise might pose a serious threat to the respective banks. Not to mention
that only our RiskPool solution is granted ERP access as customers usually expect very high returns and
overwhelming benefits (not achievable with today’s cash management and transaction banking or trade finance
products, etc.) for such generous insights in and access to their highly-protected (real-time) financials.
Based on our believe that sustainability in Banking and Finance is paramount we will maximize the results for
our customers yet we won’t push our third party providers / marketplace partners beyond reasonable cost levels
since we are not intending to suffocate them and thus put business critical services for our customers at risk.
This said entirely free of charge banking services are nice and occasionally a valid thing yet mostly unsustainable
so that we will balance customer interests with our partners going concern needs.
Plus price is by far not the only ranking and recommendation criteria.
We even go so far and weight product-customer-fit, quality of service, technical capabilities and many other things
to an equal degree to ensure best results (price-value-ratio) for our customers from a treasury and risk
management perspective.
Hence, our team constantly monitors our financial services partners and assess their specific risks, macroeconomic
trends and does everything to avoid a rise in threats to our customers and general systemic risks.
With regards to the latter we also cooperate closely with regulators, central banks and government agencies worldwide.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 72
Marketplaces: Taking sustainability and systemic risks into account
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 73
Banks are increasingly seeking to exit
their FICC business and thus team up
with Mount Wish since we are having
significant competitive advantages and
a clear head start in this area while also
being able to serve customers much
better
Transaction banking,
corporate financing
and advisory among
others as remaining key
areas for banks
Other Fintechs
attacking banks in
these remaining, tech-
heavy areas with agility
and often better IT (no
legacy systems)
Mount Wish as White Knight (digital
front office and solution provider who is
deeply integrated in the customers ERP
system) and strong partner helping
established industry players to achieve
much better business results (in the
remaining areas) and compete with
other fintechs
Mutual benefits
achieved for all
stakeholders
(Customers, Banks
Mount Wish)
Cooperation with other fintechs (contrary to a pure withe knight strategy):
▪ At the same time we also cooperate with cutting edge fintechs to give the
customers the best solution available
▪ We help banks and other established financial services firms to connect with
these FinTechs on our platform and at our quarterly held panel event
▪ Mount Wish about to become the joint backbone and digital front office for
both with our complementary Infrastructure as a Service model and deep
access to customers -> hence banks and other fintechs will in the long-run
become mere product suppliers and middle office players for their respective
services
▪ RiskPool will be connected to all these solutions
▪ FinTelligence becoming the most comprehensive and accurate real-time
data base in finance / financial services covering almost all aspects one can
think of
▪ Joint innovation forum between all market participants and intermediary
between regulators, banks, insurance companies, fintechs/insurtechs, other
finance firms as well as customers
▪ As the preeminent risk manager who is also controlling the global backbone
and marketplace front office world gives us utmost power and profit
potential while staying flexible to always integrate new approaches on the
middle layer / product side
Marketplaces: Partner strategy summary
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 74
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 75
Fincato – CAMA module: Product Summary
FinCaT is basically an ERP-data-driven platform to help our customers make smarter choices in the
field of cash management, payments, escrow, and trade finance solutions as it combines
predictive financial modelling and automated risk assessments (e.g. counterparties, supply chain,
etc.) with a comprehensive marketplace where banks, fintechs and other providers offer their
services in this field.
Hence, we are talking about a highly transparent commercial and corporate banking marketplace
with a built-in robo advisor recognizing your potential needs for action early on and helping you
to secure the best deals, services, and most suitable products and solutions globally.
A further boost in this context will come with the launch of our virtual captive product, "White
Bank" since it will add an additional layer of flexibility and strengthen your brand on the outside.
Therefore, if you like to put it this way it’s fully automated Treasury as a Service, depending on
how much room you like to give our sophisticated algorithms to make choices on your behalf.
Complementary the system is also be able to cater for intra-group funding and cash structures
and hence can help you to reduce your tax burden.
To sum it up, it is a global marketplace and thus even local banks are competing globally on our
platform which again is resulting in a win-win situation since you get access to the best solutions
no matter where the banks/providers are (much more choice and competition) while now even
local banks can showcase their strengths globally and attract new business customers who were
previously out of reach for them.
Thus, we are giving you back control by increasing market and product transparency by taking a
truly comprehensive and global approach while embedding advanced data analytics in your day-
to-day cash management processes and helping you to secure your cash flows and short-term
liquidity needs (for long-term liquidity needs you will be referred to our FundMaster product suite).
At the same time, all related steps are benchmarked against industry standards and optimized by
using FinTelligence data which also includes an assessment of your business partners financial
health, payment behavior, and based thereon the option to activate our general terms and pricing
support engine.
We aso offer customer-spanning order bundling to optimize costs for you as a customer while
allowing our partner banks to achieve better unit economics.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 76
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Market Size (Brokerage Only) and Share 135,410 128,828 122,905 117,594 112,856
Cash Management and Corporate Payments 25,353 24,614 23,897 23,201 22,525
Market Share 42.19% 0.19 0.06 0.02 0
Trade Finance 53,592 49,394 45,524 41,958 38,671
Market Share 42.19% 0.19 0.06 0.02 0
White Label 56,465 54,821 53,484 52,435 51,660
Market Share 8.44% 3.84% 1.28%
Order Bundling (Groupon for FinCaT products) 145,492 110,819 96,527 214,437 201,396
Market Share 30.94% 14.07% 4.68%
Revenues 83,078 37,063 31,895 14,229 4,817
Cash Management and Corporate Payments 10,695 4,771 4,723 2,107 763
Trade Finance 22,608 10,086 9,477 4,228 1,453
White Label 4,764 2,125 2,104 938 341
Order Bundling (Groupon for FinCaT products) 45,010 20,080 15,592 6,956 2,260
Central Sales 2,285 1,091 47
Employee and Labour Costs 76 35 67 32 61 30 1
Office Rent 4 2 3 2 3 2 0 0
Equipment Expense 1 0 1 0 1 0 0 0
IT Costs 2,095 1,047 502 251 159 80 2 1
Other Operating Expense 185 92 49 24 19 10 0 0
Legal and Lobbying Expenses 410 205 246 123 225 113 3 1
Marketing, Brand, Biz Dev & Sales 723 362 1,119 559 241 121 3 2
R&D 8,308 4,154 5,582 2,791 723 361 9 5 0
Advisory Expenses and Outsourced Labor 25 13 23 12 22 11 0 0
Profit / Loss from Operations 68,968 31,154 23,214 10,436 3,317 (727) (18) (9) (0) (0)
Margin 83.00% 84.10% 72.80% 73.30% 68.90%
Fincato – CAMA module: Income Statement
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 77
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Cash Management and Corporate
Payments 9,873 4,404 4,359 1,945 704
Trade Finance 20,869 9,310 8,748 3,903 1,341
White Labeling 4,398 1,962 1,942 866 315
Order Bundling 45,010 20,080 15,592 6,956 2,260
Total Revenue 80,150 35,757 30,641 13,670 4,620
Central Sales 2,109 1,007 43
Employee and Labour Costs 76 35 67 32 61 30 1
Office Rent 4 2 4 2 3 2
Equipment Expense 1 1 1
IT Costs 387 193 93 46 29 15
Other Operating Expense 164 82 43 22 17 8
Legal and Lobbying Expenses 382 191 229 115 210 105 3 1
Marketing, Brand, Biz Dev & Sales 668 334 1,033 516 223 111 3 1
R&D 7,509 3,754 5,045 2,522 653 327
Advisory Expenses and Outsourced
Labor 23 11 21 11 20 10
Net Operating Cash Flow 68,874 31,177 23,142 10,425 3,400 (589) (7) (3)
Investing Activities
Total Capital Expenditures 1,547 773 371 185 118 59 1 1
Capital Expenditures (Fixed Assets) 1,547 773 371 185 118 59 1 1
Capital Expenditures (Other Assets)
Net Investing Cash Flow (1,547) (773) (371) (185) (118) (59) (1) (1)
Free Cash Flow 67,328 30,403 22,771 10,240 3,282 (647) (8) (4)
Fincato – CAMA module: Cash Flow Statement
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 78
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 79
Fincato – MEDA (Mezzanine, Equity, Debt and Alternative Funding) module: Funding volumes can
range from a few thousand USD to large multimillion Post-IPO transactions and hence we offer the
first funding platform which is able to serve all customer no matter their needs and size
EQUITY FUNDING
▪ Common Shares (listed and non-listed)
▪ Preferred shares (listed and non-listed)
▪ Private Market Secondaries
HYBRID AND ALTERNATIVE FUNDING
▪ Mezzanine
▪ Convertible Loans
▪ Reverse Repos
▪ Factoring
(only if combined with FinCaT)
▪ Reverse Factoring
(only if combined with FinCaT)
▪ SAFEs
▪ Crypto Solutions (planned but currently
not offered)
DEBT FUNDING
▪ Secured and Unsecured Loans
(Single and Syndicated)
▪ Asset Backed Securities
▪ Bonds
▪ Overdraft Facilities
(only if combined with FinCaT)
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 80
The Fincato – MEDA (Mezzanine, Equity, Debt and Alternative Funding) module ecosystem
Public and private companies
Also available as SaaS
solution
Investors
(Existing and Potential Ones)
Banks
Financial Media
Register and Compliance
Reporting
FundMaster
Lawyers
Non-FIG Customer
Auditors
Funding Platforms and Stock
Exchanges
Robo Advisory and
Capital Management
Software
Market place for
funding and according
support services across
all asset classes
Process Management,
Structuring and
Collaboration Software
„Fully Connected
Single Point of Truth”
(eRegister and
Document Storage)
FIG Customer
Complementary Services (e.g.
Pitch Deck Agencies)
Semi-automated Digital IR
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 81
Fincato MEDA: The first funding platform able to serve all customer no matter their needs and size
1. START
System recognises that more cash is needed (via predictive modelling) or you tell us that you want to raise funding for some reason.
2. REQUIREMENTS ANALYSIS
Automatic evaluation whether short or long-term financing is required based on your forecasted cash flow statements (historic and comparable data will be used for plausibility checks), balance sheets and P&L.
3. WACC ASSESSMENT
FundMaster creates the relevant WACC model and assesses the appropriateness of various debt, equity and hybrid financing options while also incorporating market and business profile data to spot among others windows of opportunities*.
4. OPTION SCORECARD
FundMaster automatically gives you a full list and scorecard highlighting the advantages and disadvantages of the available financing options in your specific case. It also creates the relevant league tables and product rankings to make selection even easier
and allows to filter results by various aspects.
5. RFP PROCESS
Once you select your funding option the banks, funding platforms and/or investors will be notified in an anonymised way and thus be able to enter their final and binding pitch or offer in a pre-set form which again allows you to more easily compare the
final possibilities. This said banks can also choose to deviate from your selected funding option but then have to provide clear explanations why they recommend something else in a separate field (this is then reviewed and validated by independent experts
for you on a regular basis to protect you as much as possible).
6. OFFER SELECTION
Select your offer and/or partner(s)
7. TRANSACTION BEGINS / CLOSES
Necessary data is now released to the selected bank, platform or investor and the required documents are created and prepared to execute the fundraising round depending on the financing option about which we are talking in your specific case. Hence
standard loans and similar instruments will close online at this stage already while more complex products such as structured financings and securitisations, DCM or M&A/ECM deals will continue with the next steps.
8. PROCESS MANAGEMENT
FundMaster now opens the financing process management tool defining the detailed and as appropriate binding timeline while at the same time allowing the selected investment banks or partners to outsource certain tasks to relevant third parties if the
like (e.g. give mandates to auditors, pitch deck agencies, law firms, etc. who will be pitching via FundMaster for work from the investment banks or partners. This process again is critically monitored by us to avoid illegal price arrangements or unnecessary
fees for you).
9. ENSURING DATA CONSISTENCY
All processes are managed and executed within the FundMaster system and hence utmost data consistency and cost, as well as process transparency, is ensured. Even all the Excel, Word and PDF files will be linked to ERP system data via the FundMaster-
Add-Ons (hence financial models are getting built as used to in Excel but at the same time automatically validated by the FundMaster XLS-Add-On which also uploads for example cash flow data to the Fund Master dashboard so that everyone will have the
same understanding and data of the deal). Beyond this data can also be shared with regulatory authorities and exchanges where required. Due to this level of transparency, the lead bank can also steer the entire process in an efficient manner and control
involved third parties more easily.
10. DEAL CLOSING
Finally, the deal closes and relevant data is booked in the ERP system, a final plausibility check conducted as well as a continuous reporting is set up if required.
POST-DEAL REPORTING
With regards to the reports, it is possible to fully automate them via built-in tools or brokered Digital IR agencies doing the reporting (semi-)manually based on the provided data from the FundMaster tool.
*With regards to the mentioned windows of opportunities notifications can be turned on and thus you will receive according information throughout the year. However, we don’t like to pressure you to take unnecessary funding and thus maybe inappropriate risks
for basically two reasons: First our core product is RiskPooland secondly FundMaster is primarily developed as an effective treasury system application and not a sales channel since the latter is just a way to make things easier for you as a customers by integrating
everything related to treasury management as much as possible.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 82
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Market Size (Brokerage and Robo-
Advisory Only) 517,136 504,823 492,511 535,967 579,424 246,256
Robo Advisory Revenues 173,257 83,164 41,521 19,930 8,237
SaaS Revenues - IB 988 528 1,135 606 442
SaaS Revenues - Corporate (Extra
module to manage the involved
lawyers, auditors, actuaries, design
agencies, etc. -> included for banks
participating in marketplace with
finance products) 5,029 2,031 645 260
Total Revenues 179,275 85,722 43,301 20,796 8,680
Central Sales 2,984- 1,424- 61 -
Employee and Labour Costs 76 35 67 31 61
Office Rent 4 2 3 2 3 1 0 0 0 0 0
Equipment Expense 1 - 1 - 1 - - - - - -
IT Costs 2,775 1,388 1,335 667 973 334 0 0 0 0 0
Other Operating Expense 286 143 119 60 88 30 0 0 0 0 0
Legal and Lobbying Expenses 676 338 246 123 225 62 0 0 0 0 0
Marketing, Brand, Biz Dev & Sales 3,617 1,808 3,513 1,756 2,722 878 0 0 0 0 0
Marketing & Brand Expense Growth - -
R&D 17,326 8,663 7,266 3,633 1,236 1,817 2 1 0 0 0
Advisory Expenses and Outsourced
Labor 64 32 42 21 87 11 0 0 0 0 0
Extraordinaries
Profit / Loss from Operations 145,450 70,755 27,505 13,636 2,781 (3,131) (3) (2) (0) (0) (0)
Margin 81% 83% 64% 66% 32%
Fincato MEDA module: Profit and Loss Statement
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 83
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Revenues 165,485 79,128 39,970 19,197 8,012
Central Sales 2,754 - 1,315 - 56
Employee and Labour Costs 76 35 67 31 61
Office Rent 4 2 4 2 3 2
Equipment Expense 1 - 1 - 1
IT Costs 512 256 246 123 180 90
Other Operating Expense 261 130 109 55 81 40
Legal and Lobbying Expenses 624 312 227 113 208 104
Marketing, Brand, Biz Dev &
Sales
3,339 1,669 3,243 1,621 2,513 1,257
R&D 15,660 7,830 6,568 3,284 1,117 558
Advisory Expenses and
Outsourced Labor
58 29 38 19 79 39
Cash Flow from Operations 144,951 68,864 29,469 13,948 3,771 (2,090) (1) (1)
Investing Activities
Total Capital Expenditures 2,049 1,025 986 493 718 359
Capital Expenditures (Fixed
Assets)
2,049 1,025 986 493 718 359
Capital Expenditures (Other
Assets)
Sale of Fixed Assets &
Businesses
49 25 36 18
Net Investing Cash Flow (2,000) (1,000) (950) (475) (718) (359)
Free Cash Flow 142,951 67,864 28,519 13,473 3,053 (2,449) (2) (1)
Fincato MEDA module: Cash Flow Statement
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 84
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 85
Fincato BATI (business and trade insurance) module: An independent marketplace for corporate
insurance policies
Planing to acquire a suitable, digital corporate insurance broker per region and a matching insurance analysis platform to spot underinsured areas and compare different strategies and policies.
All else will be similiar to FinCaT after the post-transaction-integration phase. Beyond this parts of the marketplace will again be ERP data-driven.
Key rationale: Allows us to cooperate sales-wise with the large insurance firms and local brokers and thus increases our reach further in terms of sales partners while earning commissions.
Plus more data for FinTelligence.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 86
All values in million USD 2021 2020 2019 2,018
FY H1 FY H1 FY H1 FY H1
Target Market Size: Insurance Brokerage Fees 26,731
Insurance Bulk Ordering Market Size 15,422
Revenues 4,262 1,433 1,938 727 645
Central Sales 1,247 595 26
1,974
Employee and Labour Costs 19 9 17 9 16 8 0 0
Office Rent 1 1 1 0 1 0 0 0
Equipment Expense 0 0 0 0 0 0 0 0
IT Costs 4 2 3 1 2 1 0 0
Other Operating Expense 3 1 2 1 2 1 0 0
Legal and Lobbying Expenses 312 156 270 135 339 170 1 1
Marketing, Brand, Biz Dev & Sales 182 91 1,119 559 241 121 1 0
R&D 362 181 165 82 97 48 0 0
Advisory Expenses and Outsourced Labor 6 3 7 3 6 3 0 0
Extraordinaries
Profit / Loss from Operations 2,125 988 (240) (65) (85) (352) (2) (1)
Fincato BATI module: Profit and Loss Statement
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 87
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
Based on the incredibly large data pool which we have due to our ERP-driven
services (strict Chinese Walls apply with data protection being paramount of
course) we are able to provide you with in-depth analytics and assessments
of consumer market trends (e.g. products, prices), shifts in purchasing
behaviour/power and propensities to pay, supply-chain-risk developments,
the overall sentiment (also drawing data from further souces) as well as with
sophisticated advise on potential counterparty and market risks, financial
strategies, investment opportunities and economic developments both on
macro and micro level. Additionally, the data enables us to issue ratings of
corporates and to provide highly accurate solvency analyses / credit checks
of end-customers (hence private persons / households) around the globe.
The latter data points can also be used in combination with our fincato
marketplace for cash management, payments and trade finance again.
Complimentary we help you to benchmark various aspects relevant to your
organisation (e.g. operations, sales, cost levels, churn rates, etc.).
Additionally we offer a service called verified by FinTelligence so you can
mark your releases and statements as automatically plausi-checked and
verified which helps to create trust in an era of fake news.
Traditional Research Reports
Comprehensive research packages prepared by our highly sought after
analysts.
Our Terminals
We can also grant you access to select raw data via FinTelligence Terminals
so that you can create your very own models and research.
MS Office Add-Ons
Via these add-ons we are also providing business case and strategy deck
templates which can be automatically updated using real-time data and
market statistics (e.g. price developments, country developments, inflation
rates, spending analytics,…) plus access to general statistics and information
databases (quantitative and qualitative product, segment or industry
information).
Bloomberg
Factset
CapIQ
BlackRock Aladdin
Charles River
MISYS
Quandl
Prequin
Statista and other
business databases
▪ More real-time data and analytics based on having access to tens of thousands of
ERP systems at once in all regions and across all industries in addition to similar
historical data makes up for competitors advantage in having decades of
historical market data. However historical market data shall be added over time.
▪ Full-fledged solution used actively by both buy-side (Investors) and sell-side (IR
departments) creates a more direct experience
▪ Purpose-built for algorithmic traders with a fully integrated order management
systems which blends in nicely with or backbone of finance strategy (= better
systems integration)
▪ Comparable risk analytics to Aladdin but with better forecasts based on ERP data
▪ Combination of quantitative and qualitative data
▪ Integrated investment accounting system
▪ Beating Quandl and others since FX, rates and commodities are our core business
and hence we have more direct market feedback in these area based on RiskPool
▪ Lacking behind in some other niche areas like venture capital yet this is made up
by our way stronger cross-assets class capabilities and comprehensiveness of
data. Beyond this M&A deals could be an attractive growth path here.
▪ ERP access-based statistics and analytics giving a much better insight
▪ Benchmarking, business case and other modelling and analyses features
integrated with Excel and PowerPoint (including a vast amount of professional
templates)
▪ Greater breadth and depth of data (globally and qualitative)
Competitor Winning Strategy
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 88
DAO Intelligence: A compelling and competitive product offering
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 89
All values in million USD 2,021 2,020 2,019 2,018 2,017
FY H1 FY H1 FY H1 FY H1 FY H1
Total Revenues 128,330 54,605 31,381 13,353 1,634
Central Sales 11,557 - 5,518 - 236 - - - - -
Intercompany Charges 1,520 647 532 226 186 79 0 0 0 0
Employee and Labour Costs 200 95 147 63 101 47 0 0 0 0
Office Rent 13 6 9 5 6 3 0 0 0 0
Equipment Expense 7 3 5 3 6 3 0 0 0 0
IT Costs 31,698 13,488 20,722 8,817 17,691 7,528 1 1 0 0
Other Operating Expense 624 266 408 174 348 148 1 0 0 0
Legal and Lobbying Expenses 4,492 1,911 2,040 868 570 243 1 0 0 0
Marketing, Brand, Biz Dev & Sales 6,416 2,730 2,040 868 49 - 0 - 0 -
Marketing & Brand Expense Growth - - - -
R&D 12,833 5,461 7,845 3,338 1,062 - 2 - 0 -
Advisory Expenses and Outsourced Labor 27 13 20 8 14 6 0 0 0 0
Costs for business assistant like Alexa 15,823 6,733 3,869 1,646 202 - 0 - 0 -
Extraordinaries
Profit / Loss from Operations 43,120 23,253 (11,774) (2,663) (18,838) (8,057) (7) (2) (0) (0)
Margin 0 0 (0) (0) (12) #DIV/0!
DAO Intelligence: Profit and Loss Statement
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 90
2021 2020 2019
Consumer & Students Accounts 213 3 0
Verified by FinTelligence Badge 15,273 1,250 81
Socological and Political Data 1,715 149 10
Consumer Reports and Sentiment Data 2,014 258 17
Premium Statistics and Market Data 8,966 289 19
Basic Statistics and Market Data 6,641 345 22
Competitor Intelligence / Advanced BI 3,099 245 16
Supplier and SCM Intelligence 5,479 686 44
Product Pricing Tools 16,470 4,375 282
Operational Benchmarking Tools 17,639 6,834 440
Financial Information Advanced 23,920 9,267 597
Financial Information Basics 23,425 9,075 585
Premium Proprietary Research 7,493 1,875 121
Proprietary Research 5,963 2,310 149
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
DAO Intelligence: Revenue Split
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 91
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Revenues 118,458 50,405 28,967 12,326 1,509
Central Sales 10,668 5,093 218
Intercompany Charges 1,403 597 491 209 172 73
Employee and Labour Costs 200 95 147 63 101 47
Office Rent 14 7 10 5 7 3
Equipment Expense 6 3 5 2 6 3
IT Costs 4,389 1,868 2,869 1,221 2,449 1,042 0 0 0 0 0 0
Other Operating Expense 559 238 365 155 312 133 1 0 0 0 0 0
Legal and Lobbying Expenses 4,146 1,764 1,883 801 526 224
Marketing, Brand, Biz Dev & Sales 5,923 2,520 1,883 801 45
Marketing & Brand Expense Growth
Advisory Expenses and Outsourced Labor 24 11 18 8 12 6
Costs for business assistant like Alexa 14,530 6,183 3,553 1,512 185
Cash Flow from Operations 91,127 43,302 16,203 9,061 (2,341) (1,531) (1) (0) (0) (0) (0) (0)
Investing Activities
Total Capital Expenditures 36,672 15,604 23,474 9,988 14,865 5,910 3 1 0 0 0 0
Capital Expenditures (Fixed Assets) 24,871 10,583 16,259 6,918 13,880 5,906 1 0 0 0 0 0
Capital Expenditures (Other Assets) 11,801 5,022 7,215 3,070 985 4 2 0 0 0 0 0
Net Investing Cash Flow (36,672) (15,604) (23,474) (9,988) (14,865) (5,910) (3) (1) (0) (0) (0) (0)
Free Cash Flow 54,454 27,697 (7,271) (928) (17,206) (7,442) (4) (1) (0) (0) (0) (0)
DAO Intelligence: Cash Flow Statement
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 92
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Summary and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 93
DAO Advisory
The advisory group at Mount Wish provides advice to financial institutions, financial market regulators, market intermediaries, and government entities to address their most critical, and often most complex
financial issues, including capital markets, balance sheet, operational, and regulatory challenges. Operating at the intersection of capital markets, balance sheet management, and regulation allows us to
provide our clients with results-oriented strategic consulting and advisory services. Mount Wish’s focus on Data and Analytics affords clients a sophisticated quantitative assessment in support of our broad
advisory services.
Financial Markets Expertise
across all asset classes with
deep practicioner’s insights
and cutting-edge research
capabilities
Unrivaled analytics and data
management capabilities
leveraging state-of-the-art
technology, modelling
expertise and our global risk
analytics platform
Understanding of regulation
and enterprise risk
management practices which
combine policymakers’ and
practioners’ perspectives to
address clients specific needs
Tailored advisory framework
and delivery model
Proven project management
capabilities and ability to
lead complex, multifaceted
assignments
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 94
DAO Advisory: Profit and Loss Statement
All values in million USD 2021 2020 2019 2018 2017 2016
FY H1 FY H1 FY H1 FY H1 FY H1 FY H1
Advisory Revenues (FIG, Regulators and Governments Only) 2,981 1,152 1,002 387 68 26 0.08 0.03 0.03 0.01 0.02 0.00
Analyst Access 976 377 117 45 14 5 0.01 0.01 0.00 0.00 0.00 0.00
Central Sales Fees 4,290 2,048 88
Employee and Labour Costs 1,043 403 451 135 30 12 0.00 0.00 0.01 0.01 0.01 0.00
Operating Expenses 1,656 650 688 215 135 20 0.01 0.00 0.00 0.00 0.00 0.00
Marketing, Brand, Biz Development and Relationship Management 163 81 1,043 522 52 26 0.00 0.00 0.00 0.00 0.00 0.00
Profit / Loss from Operations (3,195) 394 (3,112) (440) (223) (26) 0.08 0.03 0.02 0.01 0.01 0.00
The advisory business is also seen as a highly effective and important relationship management tool and hence could also be deemed an extended marketing expense.
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 95
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 96
M16 Platform
Use full scale effects and learning curve to drive business development the Amazon way.
“By carving out an operational piece of the company as a platform, we could future-proof the company against inefficiency and technological stagnation” and “By systematically rebuilding most of our
internal tools as an externally consumable service […] the “extra revenue [AuM and liquidity as well as more diversified income streams from a risk management perspective] might be great but the real value
is in honing our internal tools”.
What’s more, this increases customer value due to taking a holistic approach, perfecting processes and allows us to keep up with future trends while effectively using our capital at hand and positioning us as
a cutting edge-innovator in finance overall.
It also allows us to enlarge our data pool and thus to make better decisions and recommendations.
Clearing and Settlement Clearing and settlement services especially for FICC and selected other instruments to reduce costs and improve real-time data basis as well as to
strengthen the relationship with our financial services partners.
Reporting and Servicing Solutions Fully automated reporting and servicing solutions related to FundMaster. However we only focus on standardized solutions here which will
become an industry norm (setting electronic filing and reporting standards in close collaboration with all involved stakeholders).
In more specialized cases brokerage to relevant partners applies.
Brokerage of unregulated services Brokerage of various unregulated banking services especially B2C HuaaS, individualized reporting solutions, or clearing and settlement services
for instruments not covered by us or exceeding our capacities (load management).
Service Centers (B2B only) Operation of own service and call centers with highly trained staff and additional provision of these services on behalf our partners for their B2B
customer products only (this allows us to improve our own responses in the call center since the link between our partners standard reactions
and us as intermediary / marketplace operator becomes much shorter and hence we can find better solutions for our customers).
Software Solutions and Basic Cloud Infrastructure Banking and insurance software and infrastructure solutions as well as specific software development projects.
Interest Income and [brokered] IaaP / BaaP solutions
(regulated yet modularized services)
Brokerage of IaaP, BaaP and related services.
This allows us to become the leading intermediary between fintechs and new market participants as well as established industry players and helps
us to stay relevant by spotting and understanding trends from a very early stage on.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 97
All values in million USD 2021 2020 2019 2018
FY H1 FY H1 FY H1 FY H1
Total Revenues 5,755 2,014 2,736 958 703 246
Clearing and Settlement 282 99 66 23
Reporting and Servicing Solutions 116 40 54 19
Commissions for Brokerage 308 122 119 42
Service Centers and Trainings 690 227 222 78
Software Solutions and Basic Cloud Infrastructure 3,557 1,245 1,978 692 697 244
Interest Income and [brokered] IaaP / BaaP solutions
(regulated yet modularized services)554 194 252 88
Other 248 87 46 16 6 2
IC Charges 1,452 508 211 74 0 0
Central Sales Charges 278 133 6
Employee and Labour Costs 394 138 256 90 230 81
Office Rent 55 19 44 15 37 13
Equipment Expense 19 7 7 2 6 2
IT Costs 755 264 420 147 148 52
Other Operating Expense 30 11 18 6 10 4
Legal and Lobbying Expenses 605 212 317 111 77 27
Partner Fees 173 60 82 29
Marketing, Brand, Biz Dev & Sales 1,726 604 821 287 105 37
R&D 2,158 755 1,095 383 351 123
Advisory Expenses and Outsourced Labor 123 43 80 28 53 19
Profit / Loss from Operations 891 409 (325) (67) (321) (110)
Margin 12.40% 16.20% (11.00%) (6.50%) (45.70%) (44.90%)
M16 Platform: Income Statement
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 98
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations and Complementary Non-Core Business
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 99
Other Operations: Metaaccounts, PWM, Captive Bank and Special Networking Events
Metaccounts:
Metaaccounts is a private bank account specifically designed with frequent travelers and high net-worth
individuals in mind.
This said we are actually using FinCaT technology and manage our customer accounts via several
corporate / fiduciary bank accounts worldwide to execute various transactions on their behalf. So its
basically corporate cash management transferred to UHNWIs and frequent travelers.
Hence the customer accounts are connected in real-time to thousands of corporate / trust accounts (also
diversifying counterparty risk) around the world and hence we can guarantee that our customers always
get the best value. Beyond this we actively use enterprise-like cash management techniques (e.g.
overnight-surplus-investing) to maximize their value even further.
We also offer Metaccounts as White-Label solution to banking partners so they can attract customers in
the mass affluent sector more easily.
Plus we link this to RiskPool extending its reach to private banking customers.
PWM Services
We offer inhouse private banking services to our
senior staff and executives in close collaboration
with selected partners.
Beyond this, the PWM unit is also responsible for
employee credit offers which we introduced to
retain top talent.
Special Networking Events (e.g. MW Annual CFO Summit)
To foster our deep relationships we host several networking and technical events throught the year such
as the annual CFO Summit, the bi-annual MW FinTech Platform where banks and fintechs can connect,
the, Global Investors Conference, etc.
Inhouse Bank / Captive
The inhouse bank provides services similar to
those of a commercial banks, such as offering
payment processing, liquidity management and
collection functions to various subsidiaries of the
Mount Wish Group and hence helps us to save
costs and increase reputation (no obvious
banking partners from the outside signalling
independce).
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 100
All values in million USD 2021 2020 2019
FY H1 FY H1 FY H1
Revenues M16 Meta-Accounts 1,821 637 196 69 -
PWM Revenues (Executive Services) 0 0 0 0 0 0
CFO Summit and Other Events 36 13 33 12 2
Inhouse Bank Results 2 1 0 0 0 0
R&D 546 191 294 21 - -
Operations 219 77 35 8 - -
Marketing & Sales Metaaccounts 455 159 20 7 -
Cross Charges (Platform Operations) 1,453 508 211 73 0 0
Central Sales Share 2,381 - 1,137 - 49 -
Results Other Operations (3,194) (285) (1,466) (29) (47) (0)
Margin (58.20%) (228.56%) (15.73%) (280.68%) (4.35%) (199.98%)
Other Operations: Metaaccounts, PWM and Special Networking Events
Investor Relations and Corporate Communications:
We aim to acquire a major social media platform known for short and precise messages which has
already become a favourite among corporates, politicians and celebrities with a highly customizable
news feed.
This shall become the new standard solutions for ad-hoc news, general corparate communications
and direct analyst (comparable to Bloomberg messages) and press messaging.
This platform will also feature various access and customization levels on the business side while
staying entirely open on the consumer side. Beyond this the platform will also be a first to come
with our “Verified by FinTelligence” solution.
In addition to that we will acquire a leading digital IR firm. This said we aim to complement
FundMaster this way and offer a more wholistic approach in this regard. At the same time it will give
us highly relevant data for social sentiment analyses and trend discovery (political, economically,
social, etc.) and hence be an integral source of information for FinTelligence again.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 101
Non-Core Technology Strategy
Independent ERP and CRM data storage in a smart hybrid-cloud environment:
We plan to acquire a major data center company and offer provider-independent storage of ERP
and CRM data so that customers can more easily switch from one ERP/CRM solution provider to
another one and easily add or delete further third party solutions.
This setup will also allow much faster computing times and a higher degree of reliability for
RiskPool and ERP-based marketplace solutions as well as a enable a more seamless customer
interaction.
Additionally it will improve the performance of FinTelligence which again also helps our customers
by giving them access to a better data set paired with an attractive BI suite (own and third party
apps).
The cloud solution will be of course a hybrid one where we focus exclusively on financial data and
applications and provide smart connections to other cloud providers for more operational
applications of our customers creating a best in class-experience.
Beyond this, the cloud will also be crucial when it comes to offering modern banking and insurance
software products as well as infrastructure solutions to our financial services partners and hence
really allows us to become the backbone of global finance.
Further details shall be announced in due time.
Governance Tech:
To improve customer experience with less friction we also want to acquire a major entity and
equity management provider as this will significantly enhance the FundMaster experience but also
help to improve intra-group funding, tax and cash structures more easily with a full FinCaT
integration and help customers to reduce costs significantly.
It also improves compliance (e.g. KYC, board resolutions, etc.) and strengthens the customer
relation. Beyond this it adds we can also connect it quite well to our data center solutions (board
documents and notes, voting systems, ERP/CRM data linked directly to different entities, etc.)
Unconsolidated other:
Enhancing customer experience further and getting access to new customer segments as well as
attractive product categories and asset classes. Some of these applications also strengthen the
reach or capabilities and use of FundMaster, FinCaT or foster our backbone of finance strategy
and thus our access to strategic financial services partners.
Additionally these solutions mean more data points for FinTelligence again and often provide us
some great cost saving potential.
More details to be provided in due time.
Financial Knowledge and Education Platform:
We need to provide a platform where everyone can learn about finance no matter their prior state
of knowledge and hence make more informed decisions.
This will help us to further improve our image but more importantly also improve the experience
with our products since all customer now have access to well written explanations or can easily
look up unclear technical terms and their precise meaning. The latter will also help to imcrease
compliance since everything is clearly explained for the customer.
Beyond this, it will intensify the customer relationship with seminars and a virtual learning
environment for financial topics. The letter can also be used to attract new employees by creating
new touchpoints with universities or a general finance website.
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 102
All values in million USD 2021 2020 2019
Investor Relations and Corporate Communications Tech 2,276 (11,987) (25)
Communications Business 2,270 (11,955) (25)
A to be acquired social media platform 304 (1,601) (3)
IR and Corp Releases 272 (1,433) (3)
Communications Center 133 (700) (1)
Newly created journalist and press hub of the acquired platform 41 (215) (0)
Data Sales 1,520 (8,005) (17)
A to be acquired and leading digital PR company 2 (9) (0)
Other 5 (24) (0)
ERP and CRM Data Storage 2,217 (33,345) (11,115)
A major to be acquired cloud storage provider 142 (2,128) (709)
A major to be acquired cloud computing provider 2,011 (19,660) (6,553)
IC Loan for New Data Centers 59,434 (893,735) (297,912)
Other 65 (971) (324)
The Central Hub 9,568 (10,586) (3,529)
Governance Tech 1,329 (1,035)
A to be acquired entity management and governance tech company 446 (348) -
A to be acquired equity management software provider 149 (116) -
Other (e.g. Brokerage of Registered Offices, Lawyers, etc) 734 (571) -
Unconsolidated Other 152 (10) (15)
A to be acquired crypto company (subsidiary of Magma) 47
A to be acquired alternative investment platform 35
A to be acquired broker-free stock trading app 70
Our own financial information and education website and knowledge / training center (237) (15) (25)
Other 299 (7) (10)
TOTAL 15,605 (56,985) (14,719)
Non-Core Returns
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 103
Non-Core business to become profitable after 3 and reach break-even in around 7 years
All values in million USD
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 104
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations and Complementary Non-Core Business
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 105
Mount Wish Corporation(New York)
Mount Wish Global Services
(Delaware)
Mount Wish North America Services
(Delaware)
Mount Wish US Services
(New York)
Mount Wish Canada(Toronto)
Mount Wish Mexico(Mexico City)
Mount Wish EMEA Services(London)
Mount Wish Europe SE
(Dublin)
Mount Wish UK(London)
Mount Wish Deutschland AG
(Munich)
Mount Wish France(Paris)
Mount Wish Netherlands
(Amsterdam)
Mount Wish Italia(Milan)
Mount Wish Greece(Athene)
Mount Wish Espana(Madrid)
Mount Wish Luxemburg
(Luxemburg)
Mount Wish Nordics(Stockholm)
Mount Wish MEA(Dubai)
Local Sales Entities
Mount Wish APAC(Hong Kong)
Local Sales Entities
Mount Wish China(Shanghai)
Mount Wish Latin America(Chile)
Local Sales Entities
Mount Wish Switzerland
(Zurich)
Mount Wish Partner Services
(New York)
Mount Wish Partner Services Western
Hemispere(BVI)
Mount Wish Partner Services North
America(New York)
Mount Wish Partner Services Europe
(Dublin)
Mount Wish Partner Services Latin
America(Chile)
Mount Wish Partner Services MENA
(Malta)
Mount Wish Partner Services Israel
(Tel Aviv)
Mount Wish Partner Services Africa
(Capetown)
Mount Wish Partner Services Eastern
Europe and Russia(Vienna)
Mount Wish Partner Services Eastern
Hemispere(Seychelles)
Mount Wish Partner Services Australia and
Oceania(Auckland)
Mount Wish Partner Services SEA(Singapore)
Mount Wish Partner Services Japan
(Tokyo)
Mount Wish Partner Services China
(Shanghai)
Mount Wish Partner Services India
(Mumbai)
Mount Wish Partner Services China
(Shenzen)
Mount Wish Partner Services International
(London)
Mount Wish Extended Regional
Services (Luxemburg)
Mount Wish Russia(Moscow)
Mount Wish Eastern Europe
(Budapest)
Local Sales Entities
Mount Wish Call Center
(Upstate New York)
Mount Wish CC Latin America (Chile)
Mount Wish CC NA East
(Vancouver)
Mount Wish CC Auckland
Mount Wish CC Bangkok
Mount Wish CC Seychelles
Mount Wish CC Amsterdam
RiskPool(New York)
Magma(San Francisco)
Acquisition Target(New York)
Acquisition Target(Paris)
Rock+Water(Stamford, CT)
Bricklane Capital(Chicago)
Acquisition Target (New York)
Acquisition Target (New York)
Acquisition Target (Westport)
Acquisition Target (Boston)
Acquisition Target (New York)
Acquisition Target (Chicago)
Acquisition Target (Bahamas)
R+W Global Solutions(New York)
Mount Wish Brokers (Delaware)
Fincato Corporate Finance
(New York)
Acquisition Target Acquisition Target
(Berlin) Acquisition Target
(New York) Acquisition Target
(San Francisco)
Acquisition Target(Part 1)
Add-Ons (Audit, Tax, PPT, Other)
(Amsterdam)
Finacto Cash Management
(London & Hong Kong)
Acquisition Target (Hamburg)
WhiteBank(Amsterdam)
Fincato Insurance(Guernsey)
Acquisition Target (London)
DAO(Washington D.C.)
DAO Intelligence(Washington D.C.)
Acquisition Target (San Francisco)
Acquisition Target (Somerville)
Acquisition Target
Acquisition Target
Acquisition Target (Munich)
Acquisition Target (Toronto)
Acquisition Target (Chicago)
Acquisition Target (New York)
Acquisition Target (Seattle)
FinTelligenceSolutions
(New York)
Verified by DAO(Geneva)
DAO Advisory(New York)
FinTelligenceAdvisory North
America(New York)
FinTelligenceAdvisory APAC
(Singapore)
FinTelligenceAdvisory Europe
(Frankfurt)
FinTelligenceAdvisory
International(London)
M16 Group(Boston)
M16 Financial Services
(Delaware)
Mount Wish Captive(New York)
Mount Wish Captive Europe
(Luxemburg)
Mount Wish Captive North America
(New York)
Mount Wish Captive MEA
(Dubai)
Mount Wish Captive APAC
(Hong Kong)
Mount Wish Captive Latin America(Puerto Rico)
Mount Wish Captive UK
(London)
M16 Bank (Modularized) (Amsterdam)
Mount Wish Private Bank
(Zurich)
Mount Wish Private Bank Europe and
RoW(Vienna)
Mount Wish Private Bank US
(Los Angeles)
Mount WoshEmployee Bank APAC
(Hong Kong)
M16 Meta Accounts(New York)
M16 Meta Account US
(Austin)
M16 Meta AccountEU
(Luxemburg)
M16 Meta AccountAPAC
(Hong Kong)
R+W Savings Account(Delaware)
R+W Savings Account US
(San Francisco)
R+W Savings AccountEU
(Liechtenstein)
R+W Savings AccountAPAC
(Singapore)
M16 Platforms(Los Angeles)
Acquisition Target (Menlo Park)
M16 Shared Services(Chengdu, China)
M16 Shared Services (Edinburg)
M16 Shared Services (Valencia)
M16 Shared Services (Nashville)
M16 Shared Services (Miami)
M16 Shared Services (Los Angeles)
M16 Shared Services (Auckland)
M16 Shared Services (Vietnam)
M16 Shared Services (Tel Aviv)
M16 Digital(Seattle)
Acquisition Target (Redwood)
Acquisition Target (Las Vegas)
Acquisition Target (Paris)
Acquisition Target (Zurich)
Acquisition Target(Stuttgart)
Acquisition Target (Part2)
Acquisition Target (New York)
SmartTools (smart contracts, AI-bots,
etc.)(Seattle /
Washington)
Acquisition Target (Part3)
M16 Financial Communications
(Toronto)
Media Services and Tools
(New York)
Media Services and Tools US
(New York)
Media Services and Tools EMEA and
APAC (London)
IR Conferencing and Analyst Chats(Stockholm)
MW Media Productions (Inhouse)
(Los Angeles)
Acquisition Target (Munich)
Acquisition Target (San Francisco)
JVs with GettyImagesand Infogram
MW Labs(Boston)
FinTech² Accelerator (Stamford)
M16 Ventures(New York)
FinanceCoach(Los Angeles)
Mount Wish Inhouse Audit and Consulting
(Copenhagen)
Holding or internal services company Product entity
Customer facing sales entity
Acquisition Target
Entity Structure
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 106
17,931
86,244
36,127
96,692
10,000
0
2
4
6
8
10
12
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
2019 2020 2021 potential acquisitions Corporate VC Fund
Total M&A Deal Value per year Cummulative M&A Deal Value Number of Deals
M&A Deal Values
All values in million USD
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 107
Excerpt of our M&A Strategy (more details for qualified investors upon request)
M&A SummaryPlanned
acquisitionsComment
A major treasury software provider, a core banking system provider and an insurance
core system provider
3 companies - Treasury software and core banking systems as basis for our own products in order to offer our customers a
modular and wholistic approach
- Banking systems provider as basis for our backbone of finance strategy with deep integration into the
previous acquisition target to create an even more seamless dual-sided experience
- Insurance systems provider as basis for our backbone of finance strategy
A major real estate management software provider 1 company - Real estate investment and property management Software suiting our RE asset management division
- Extending our data sets in Real estate (FinTelligence)
- Strengthening our backbone of finance strategy
A leading cloud storage provider and a major data center operator as well as two
hybrid cloud startups, plus maybe two other data center operators in Asia and
Europe
4-6 companies - OEM independent, cloud-based ERP data storage, smart document linking and BI functions via modular
proprietary and third party applications
- Data for FinTelligence
An augmented search company and a data visualization company 2 companies - BI tools with augmented input functions
- Business Intelligence and Data Visualization yet open to third party BI and visualization tools
The mentioned social media platform and digital IR company 2 companies - Please refer to the relevant strategy slide
The mentioned entity management software provider and an equity management
company
2 companies - Improving the efficiency of FundMaster and creating a more seamless experience
- Manage intra-group finanancings, tax and cash structures more easily (FinCaT and FundMaster)
- Direct inegration of entity and equity management
Two leading algorithmic trading companies which complement each other, a large
private equity group and two cutting-edge hedge funds, a specialist weather fund,
plus maybe two other diversified asset managers
5-7 companies - Increase AuM and thus competitiveness
- Access to experts and opening Rock+Water to the outside
- Diversify insurance asset portfolio in a cost efficient way
A collection of relevant marketplaces which fit with FinCaT, BiSure and FundMaster
pus a well-established a savings marketplace and a company making it easier to
switch accounts
5 companies - Strengthen FinCaT, BiSure and FundMaster
A securitization platform 1 company - Allow banks to securitize granted credits immediately and easily and hence create a better funding market
for our customers
- Extend FundMaster to FIGs with a very special offer
An automated due diligence solution provider 1 company - Creating a better customer experience with FundMaster with a more effective and efficient due diligence
process
A supply chain risk analysis company, various financial information providers (which
complement each other), a satellite-supported information company
5-6 companies - FinTelligence Data
A financial education and knowledge platform 1 company - Please refer to the relevant strategy slide
A stock brokerage app 1 company - RiskPool-integration and Metaaccount connection and thus extending RiskPool via Consumer Cash
Management to Equity Hedges and at the same time increasing AuM and strengthening our backbone of
finance strategy
An fx information specialist 1 company - FinTelligence Data
- Aqui-Hiring
Chief Executive Officer
President
Regional Management, North
America
Regional Management, EMEA
Regional Management, APAC
Regional Management, Latin
America
Regional Management, Rest of
World
Strategy & Innovation
Project Management Office
Internal Audit (IA) and Inhouse
Consulting
Executive Office
Chief Marketing and Growth
Officer
Customer and Partner Training
Programs
Marketing, Brand and External
Communications
Internal Communications
Direct Sales
Sales Partner Management
Customer Journey
Management, Cross-and-
Upselling- Concepts and
Cross-Product-Integration
Chief Financial Officer
Investor Relations
Financial Reporting and
Accounting
Tax and Transfer Pricing
IPO Readiness and Finance
Excellence
Product and Actuarial Pricing
(dotted lines from ALM and
CMGO)
Managerial Accounting
Corporate Developement and
M&A
Corporate Finance
Chief Investment and Risk
Officer / CEO, Rock+Water
Chief Economist
Financial Policy Office
(dotted line from Managerial
Accounting and Internal
Policies)
Rock+Water Asset
Management
Treasury Cash Management
and Payments
Financial Risk and Asset-
Liability-Management
M16 Financial Services
(Captive, M16 Bank incl. Meta-
Accounts and R+W Savings
Accounts, BaaP, etc.)
FinTelligence Research
FinTelligence Advisory
(Chinese Walls apply)
General Counsel
Regulatory and Governmental
Relations
Compliance
Legal
Legal Tech and Automation
Corporate Social Responsibility
Office of the Company
Secretary
Internal Policies
(Non-Financial)
Chief Technology Officer
Data and Cloud Architecture
Information Security
Software Development and
Engineering
FinTelligence Data
M16 Financial Communications
M16 Digital Services and
Governance Tech
Chief Operations Officer
Business Process Management
Global Procurement and
Provider Management
Corporate Operations (Office
Management) and Assets
Human Talent Management
Service/Call Centers,
Onboarding and Continuous
CRM (dotted line from CMGO)
Chief Product Officer, Risk Pool
FX
Rates
Commodities
Synthetic Commodity Hedges
Non-Traditional Markets and
Magma
CPO, Brokered Products
FundMaster
FinCaT
BiSure
M16 Platform (Third Party
Solutions)
Non-Financial Product
Brokerage
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 108
Organizational setup
May 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 109
Content
1. Group
1.1. Group Summary
1.2. Group Financials and Statistics
1.3. Valuations and IPO Plans
1.4. Our 5% and other CSR initiatives
1.5. Achieving the mission of the IMF
1.6. Our contribution to economic change and global peacekeeping
2. RiskPool
3. Rock+Water Asset Management
4. Marketplaces (Fincato)
4.1. Fincato CAMA formerly known as FinCaT
4.2. Fincato MEDA formerly known as FundMaster
4.3. Fincato BATI formerly known as BiSure
5. DAO formerly known as FinTelligence Data
6. DAO Advisory formerly known as FinTelligence Advisory
7. M16 Platform as a Service
8. Other Operations and Complementary Non-Core Business
9. Entity Structure, M&A Plans and Organizational Chart
10. Appendix
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 110
Valuation – Comparables
Shiller P/E RatioForward P/E
Multiple P/E Multiple P/S Multiple P/BV Multiple P/CF Multiple
Weight include = x include = x 2019include =
x 2019include =
x 2019include =
x 2019include =
x
Mixed Tech, Financial Information, BI, Data:4.95% 39.35285714 21.59857143
29.08666667
5.486222222
14.86571429
22.97428571
Oracle % 26.01 x 14.41 x 52.21 x 5.25 x 6.57 x 15.64 xGoogle 52.27 x 24.63 x 23.57 x 6.074 x 4.53 x 39.64 xMicrosoft 42.22 x 22.21 x 25.11 x 7.3 x n/a x n/a xMorningstar 43.52 x n/a 30.06 x 5.15 x 5.47 x 21.81 xF5 Networks 34.62 x 15.29 x 22.56 x 4.489 x 6.75 x 13.88 xCisco Systems 31.92 x 16.75 x 19.1 x 4.78 x 5.67 x 18.31 xSoftbank n/a x n/a x 7.32 x 1.188 x n/a x n/a xMoody's 44.91 x 21.37 x 22.93 x 7.45 x 71.67 x 24.05 xTwitter n/a x 36.53 x 58.92 x 7.695 x 3.4 x 27.49 xBox Inc. n/a x n/a x n/a x n/a x n/a x n/a xBloomberg n/a x n/a x n/a x n/a x n/a x n/a xBenzinga n/a x n/a x n/a x n/a x n/a x n/a x
Internet Market Places: 26.52% 216.2 110.082 x 48.71 7.036 9.628 458.85Amazon 414.81 x 57.81 x 80.16 x 3.58 x 18.61 x 47.79 xJingdong n/a x n/a x n/a x n/a x n/a x n/a xAlibaba n/a x 27.03 x 46.15 x 9.08 x 6.98 x 21.47 xB2W n/a x n/a x n/a x n/a x n/a x n/a xFarfetch LTD n/a x n/a x n/a x n/a x n/a x n/a xShopify n/a x 434.25 x 41.41 x 18.38 x 9.45 x 2188.61 xGroupon n/a x 17.45 x 38.78 x 0.71 x 7.49 x 18.66 xEbay 17.59 x 13.87 x 37.05 x 3.43 x 5.61 x 17.72 x
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 111
Shiller P/E RatioForward P/E
Multiple P/E Multiple P/S Multiple P/BV Multiple P/CF Multiple
FinTech: 12.40% 45.35333333 19.8525 42.785
6.202857143
11.28128571
43.71333333
Temenos AG n/a x n/a x 62.56 x 13.3 x 44.2 x 42.47 xFIS 52.99 x 14.43 x 51.51 x 4.19 x 3.19 x 25.69 xION Group n/a x n/a x n/a x n/a x n/a x n/a xFiserv 49.1 x 24.63 x 20.44 x 6.05 x 14.8 x 29.45 xFinastra n/a x n/a x n/a x n/a x n/a x n/a xPaypal delisted x delisted x 51.58 x 7.51 x 7.3 x 73.36 xKreditech n/a x n/a x n/a x n/a x n/a x n/a xSAP 33.97 x 19.65 x 24.22 x 3.93 x 4.61 x 39.87 xKyriba n/a x n/a x n/a x n/a x n/a x n/a xOanda n/a x n/a x n/a x n/a x n/a x n/a xRakuten n/a x n/a x 7.45 x 1.23 x 1.899 x n/a xSunguard n/a x n/a x n/a x n/a x n/a x n/a xWorldpay n/a x 20.7 x 110.51 x 7.21 x 2.97 x 51.44 xIG Markets n/a x n/a x 14.01 x n/a x n/a x n/a xRevolut n/a x n/a x n/a x n/a x n/a x n/a xN26 n/a x n/a x n/a x n/a x n/a x n/a xNordFX n/a x n/a x n/a x n/a x n/a x n/a xeToro n/a x n/a x n/a x n/a x n/a x n/a xICM Brokers n/a x n/a x n/a x n/a x n/a x n/a xMIG Bank n/a x n/a x n/a x n/a x n/a x n/a xAlpari n/a x n/a x n/a x n/a x n/a x n/a x
Exchanges:11.09% 35.68 21.995 x
29.08285714 6.416 2.402
18.49666667
Intercontinental Exchange 35.89 x 19.72 x 21.1 x 6.89 x 2.47 x 19.18 xCME 35.47 x 24.27 x 30.1 x 13.74 x 2.39 x 25.41 xLondon Stock Exchange n/a x n/a x 46.79 x 7.65 x 4.39 x 10.9 xGroup Deutsche Börse n/a x n/a x 24.87 x 1.54 x 0.85 x n/a xKraken n/a x n/a x n/a x n/a x n/a x n/a xBitfinex n/a x n/a x n/a x n/a x n/a x n/a xCoinbase n/a x n/a x n/a x n/a x n/a x n/a xHong Kong Stock Exchange n/a x n/a x 42.69 x n/a x n/a x n/a xTokyo Stock Exchange n/a x n/a x 24.41 x 2.26 x 1.91 x n/a xEuronext n/a x n/a x 13.62 x n/a x
Valuation – Comparables
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 112
Shiller P/E RatioForward P/E
Multiple P/E Multiple P/S Multiple P/BV Multiple P/CF Multiple
Banking: 12.20% 39.36857143 11.08222222
8.945294118
2.099090909
1.229090909
10.43333333
Morgan Stanley n/a x 8.65 x 9.03 x 1.88 x 0.97 x 13.6 xCiti 27.57 x 10.29 x 13.27 x 2.41 x 0.89 x 5.8 xBank of America Merrill Lynch 34.55 x 10.08 x 10.58 x 3.19 x 1.13 x 7.58 xJPM Chase 18.13 x 10.55 x 11.75 x 3.23 x 1.45 x 23.77 xGoldman Sachs 11.94 x 7.79 x 7.86 x 2.23 x 0.9 x 5.86 xDeutsche Bank 125.13 x 18.27 x 0 x 0.65 x 0.24 x na xBarclays n/a x n/a x 10.99 x n/a x n/a x n/a xCredit Suisse n/a x n/a x 14.87 x 1.58 x 0.88 x n/a xUBS 37.23 x 8.61 x 9.81 x n/a x n/a x n/a xHSBC n/a x n/a x 0 x 2.55 x 0.83 x n/a xMoelis n/a x 15.7 x 16.11 x 2.48 x 4.93 x 5.99 xNomura 21.03 x 9.8 x 14.03 x 1.21 x 0.53 x n/a xICBC n/a x n/a x 7.29 x n/a x n/a x n/a xChina Construction Bank n/a x n/a x 5.54 x 1.68 x 0.77 x n/a xBank of China n/a x n/a x 4.66 x n/a x n/a x n/a xFosun n/a x n/a x 11.24 x n/a x n/a x n/a xArgicultural Bank of China n/a x n/a x 5.04 x n/a x n/a x n/a x
Insurance 22.66% 22.2275 34.33666667 19.064 1.945 3.224
82.85571429
AIG n/a x 9.25 x 37.78 x 0.8 x 0.67 x 489.54 xTravelers 15.12 x 12.11 x 14.4 x 1.17 x 1.52 x 8.06 xZurich Insurance n/a x n/a x 12.89 x n/a x n/a x n/a xChubb n/a x 142.06 x 14.1 x 9.16 x 16.86 x 29.79 xThe Hartford Group n/a x n/a x 9.48 x n/a x n/a x n/a xFannie Mae n/a x n/a x 3.23 x 0.68 x n/a x 7.24 xAXA n/a x n/a x 9.33 x 0.39 x 0.66 x n/a xArriva n/a x n/a x 12.01 x n/a x 0.82 x n/a xAllianz n/a x n/a x 10.63 x 0.77 x 1.35 x n/a xLiberty Mutual n/a x n/a x 11.56 x n/a x n/a x n/a xMarsh McLennan 36.8 x 19.61 x 28.45 x 3.25 x 6.14 x 22.09 xMetLife n/a x n/a x 8.32 x n/a x n/a x n/a xBerkshire Hathaway 25.07 x 15.5 x 11.25 x 2.18 x 1.41 x 21.44 xPrudential 11.92 x 7.49 x 8.06 x 0.63 x 0.78 x 1.83 xHiscox n/a x n/a x 94.47 x 0.42 x 2.03 x n/a xLloyds of London (Insurance Market) n/a x n/a x n/a x n/a x n/a x n/a x
Valuation – Comparables
April 19 Mount Wish Corporation | Guidance 2019 – 2021 | New York 113
Shiller P/E RatioForward P/E
Multiple P/E Multiple P/S Multiple P/BV Multiple P/CF Multiple
Asset Managers: 3.86% 19.025 14.51 16.714 5.595 2.2 23.79KKR 15.27 x 12.71 x 12.28 x 6.38 x 2.32 x n/a xBaupost n/a x n/a x n/a x n/a x n/a x n/a xBlackRock 22.78 x 16.31 x 16.02 x 4.81 x 2.08 x 23.79 xHudson River Trading n/a x n/a x n/a x n/a x n/a x n/a xCitadel n/a x n/a x 25.94 x n/a x n/a x n/a xT. Rowe Price n/a x n/a x 13.67 x n/a x n/a x n/a xJones Lang LaSalle n/a x n/a x 15.66 x n/a x n/a x n/a x
Mixed Commodities 6.00% 18.45 11.12 16.83 0.38 1.22 9.8Glencore 18.45 x 11.12 x 16.83 x 0.38 x 1.22 x 9.8 x
Combined and Weighted99.69% 80.5436092 45.52312933
29.95471141
4.553873692
5.993151973
151.8432423
Valuation – Comparables