Okay. And it's a pleasure for me to welcome you all for the Q3 financial presentation for Osterholm Seafood. We are doing this presentation from our main office here in Oosteboort. I will start my presentation by taking you through the highlights in the quarter. Thereafter, I will go more in detail through the performance in the different segments in the quarter.
And Britt will take you more in detail through the different numbers. And I will end the presentation by giving our view on the markets and the segments we are operating within. Starting off, talking about the 3rd quarter performance. It's always important for us to mention that Q3 is always a seasonable low fishing quarter and I would say all over the different regions. So the operation is quite quiet both when it comes to the pelagic activity and when it comes to the whitefish activity during this quarter.
When it comes to the salmon performance, I would say we are in a good truck. The biological performance has been improving during Q3 and also into the Q4 when it comes to LEAVE's performance. And it also gives us a good foundation going into 2020 both. Looking at the quarter, have a revenue of SEK 5,500,000,000 and EBITDA of just below SEK 800 €1,000,000 and EBIT of €415,000,000 QuickJack profit of €393,000,000 which is down approximately €80,000,000 compared with last quarter in 2,000 similar quarter 2019. If you go down on the page and include our 50% share in Permian, you see we are delivering an EBITDA of NOK 842 1,000,000.
It's approximately NOK 140 1,000,000 lower than the similar quarter last year. And it's divided between NOK 100,000,000 less from Le Roy, mainly due to retail performance from the Whitefish segments and approximately €35,000,000 to €40,000,000 less from the pelagic activity in the group. I will come back to that when I'm going through the different company in detail. Looking at the 3rd year so far. Year to date, 3rd quarter, you see we had a revenue below last year, around NOK 16,700,000,000 and EBITDA of NOK 2,800,000,000, EBIT of just below NOK1.7 billion and a pre tax profit of just below NOK1.5 billion.
Our strong balance sheet total has just short of NOK 40,000,000,000 and an equity share of just below 60% and net interest bearing debt of NOK 4.60 NOK 4.6 billion. Including the 50% share of Pelovina, you see that IITA in the 1st 9 months is around NOK 3,000,000,000 is approximately NOK 560,000,000 less than last year, where of NOK 350,000,000 is coming from the layering activity and approximately NOK 200,000,000 less compared with the 1st 9 months in 2019 is coming from the pelagic activity. 2 drivers behind the result in the pelagic activity is that there's been pressure on the fishing markets margins in Belavia, which has caused, I would say, euros 100,000,000 in less contribution and also due to the weaker catches in Q1 and the last quarter of 20 18, there has been lower sales in Peru, which also explained approximately €100,000,000 of the €200,000,000 difference from this year compared with last year. Then going through the operational overview of the group. And summing up, I would say that we are aiming to catch around 400,000 tonne of pelagic fish on our own quota with our own vessels during 2020.
We will process approximately 1.8 1,000,000 tons of pelagic fish on the factories. We will catch with our vessels and produce on a whitefish plants approximately 100,000 tons of whitefish. And we are aiming to end up with just about 190,000 tons of salmon harvested in 2020. Now starting off going through the pelagic segments. And again, I would focus less on our performance in Q3 and more on the view for the next quarter to come.
Looking at the quota, which was set on last Sunday, you can see it's on a similar level, both the quota size and also the biomass total biomass identified by El Magpah this season compared with the same season last year. Cora was 2 point just below 2,800,000 tonnes, which gives a total of 5,200,000 tonnes in Monsterbury quota during 2020, which is on a higher level if you compare the last 5 years. 2nd season will start up midnight today. And I would say we have all the vessel ready. It's a bit later start up this season compared with last season.
Cora is the same, but if we look at the last season, it was just above 900 tonnes which were caught off the 2,800,000 tonne, which was set at that time. At that time, it was a higher percentage of juveniles and the fish was also more spread. And we have no reason to believe that this will be the same this year. But of course, it's going to be exciting to see how the fishing pattern will develop, I would say, in the first 3 weeks of the season. Again, the COVID-nineteen situation is severe, and it is quite heavy logistics in order to be prepared for the season.
And but I would say, we are well prepared and better prepared now than it was for a season last year. It's been some human consumption catches during Q3 and also into the Q4, bringing the total volume up to just below 19 tons of course, macro and macro during the year compared with the same year last year. And when it comes to the catch just in Peru, on this side of the year, we are aiming to capture 140,000 tonnes by the year end. Chile, again, I want to emphasize and say that they have been performing very well this year both when it comes to catchers, production, higher intake into Folsom, which has brought better margins. And it's reflected in a number Brett will provide for you later on during the financial figures.
But again, I would say that they've done a very good job in Chile in so far in 2020 compared also with the previous year we have been yes, we have been comparing it. 4th quarter is normally a maintenance quarter. So we are expecting, I would say, a negative impact on earnings as always during Q4 of 2018. Foreign situation is good. We are expecting 15% increase for 2021, still not yet implemented.
But that will also bring our own quota up to just below 40,000 tons for 2021. And looking into the North Atlantic quotas, which is, I would say, the foundation for raw material intake both for pelagic vessels and also for pelargon with the fish meat and fish oil activity and also the human consumption activity. Summing up for the most important species, I would say that winter hiring is up by 21%, which the Norwegian vessels has a high percentage of. North Sea hiring is down by 5%, Macquarie is down by 9% and Blue Baltic is down by approximately 20%, which is the most important species for the efficiency factors. So summing up, I would say more volume in for human consumption and maybe less for fish meal during 2021 compared with 2020.
I would say a seasonable low quarter for fish meal activity, mainly been producing based on trimmings. And we're also expecting that trimmings will be the main raw material source for our activity in Q4. Volume wise, there's going to be a high intake of fish meat and meat and raw material for fish meat and fish oil during 2020. And I would say market wise, it has a negative price trend into 3rd quarter. Prices were dropping due to a good performance from Peru and also a decent mortgage in the development of the currency exchange rate.
I would also say that we have sold less volume in this quarter compared with what we did last quarter or the Q3 in 2019. So a less frame of contracts and more spot trade during the quarter. When it comes to human consumption activity, I would say I have not spent a lot of time talking about Q3, more into Q4, I would say, which is the most important for a quarter for this segment, About 50% of the total volumes is 50% of the total volumes is caught during Q4 and main species is mackerel and winter herring. And so far, it's been an okay succession of the or execution of the season. Looking at the numbers in the quarter, you can see that the earnings is a bit down, €106,000,000 in EBITDA and €44,000,000 in EBIT in the quarter, mainly driven by lower margin of fish meal and also less volume of sales for fish meal and oil during the quarter.
Looking at year to date, 3rd quarter, you also see that it's considerably lower in the Q3 earnings. However, we had a gain of sales of NOK 105,000,000 in Q2 in 2019. So adjusting that out, it's, I would say, approximately NOK 140,000,000 weaker performance in earnings in Palladium mainly due to the effect from the fish meal industry. And then jumping to Lere and Leary's performance. Again, I would say that when it comes to the biological performance of Lere, it's a positive development also as expected and also as indicated in the Q2 last year, we are delivering EBIT of NOK370 million, which is down from NOK501 million in same quarter in 2019 and is mainly driven by approximately NOK 90,000,000 weaker performance from the Whitefish 7.
So we'll come back to that later. Looking at harvest volume, it's more or less in line of what we did last year, approximately 1,700 tons less. We have been slaughtering in the quarter approximately 8,000 tons in the north of Norway, approximately 12,000 tons in Mid Norway and 14,000 tons in the West Coast of Norway. EBIT per kilo is marginally less than it was same period last year and an EBITDA key of 9.2 percent in all over the regions. But I can make a difference between different regions, EBIT per kilo of NOK 13 in Lereverovo and NOK 11 in Leremet and it's negative by NOK 3 in Lerever Schurt.
Saying that, I would say that Leve Schurter has been harvesting on a very challenging generation during this quarter. And going forward, we are expecting a better performance for slaughtering on the next generation in 4th quarter. So I would say, all in all, biological performance better this quarter in all regions and gives us also a good foundation going into 4th quarter and into 2021. And as you can see on the expectation of 2021, you're seeing that we are increasing our slow drilling volume with approximately 22,000 tons in Norway and approximately 5,000 tonnes in our shares in Skokla. So all in all, we will have an increase of approximately 27,000 tonnes in 2021 versus 2020.
Now some comments on the white fish segment in Norway. And as you can see, in the quarter is on an EBIT side, it's considerably lower performance. There is some explanation by that. I will first enhance the COVID-nineteen effect in the market. We have seen that prices has been significantly dropped from the top in the first quarter.
Coders coal prices and sale prices is down with 22% and hydro prices is down by 42%. Another effect is that we had a much higher percentage of cod and hendock in the Q1 leaving less fish in for the Q3. So it's been also a different product mix and we have been catching on lower priced species such as shrimp and redfish. But if you look year to date 2020, you can see that the performance is marginally lower so far this year. And still I would say that COVID-nineteen is having effect on prices, but we are expecting that this effect will improve a bit or the process will improve a bit into 4th quarter and also into the New Year.
And I will give the word to Britt.
Thank you, Omer. As usual, we start with this table and that summarizes the raw material intake in the quarter year to date and also our expectations for the full year of 2020. As you can see, from White Canche, there is a raw tariff intake of 267,000 tonnes. That is up from 247,000 tonnes and the increase comes from Peru and they finalized their 1st fishing season in July. For the total year, we expect around 1,900,000 tons from the Wild Catch operation, up from 1,700,000 tonnes in 2019.
However, this is, of course, subject to the development of the upcoming fishing season in Peru now in Q4 and January. And Anne has already gone through the key figures, so I will start at the EBIT level. The EBIT in 3rd quarter is EUR 4 15,000,000, down from SEK 559,000,000 in the same quarter last year. And fall in earnings can be explained by lower earnings from the Whitefish segment, as Alain has already mentioned. There is a very that has been a very difficult market.
There has also been a different hedge composition and lower harvesting rates. In addition, we have harvested from the spring 2019 generation with Sam and in Groenew Birklaan. And we have harvested on very low weights and had a high cost on that generation, which has also negatively impacted the earnings in the quarter. If we look at income from the associated company, that is SEK 71,000,000 in the 3rd quarter this year and that's up from SEK 45,000,000 same quarter last year. And the increase is mainly coming from Muftel Thamberg, which has a result of SEK 39,000,000 in Q3 this year and that is up €30,000,000 from the same quarter last year.
Looking at the net finance, of the net finance, minus SEK 7,200,000 is net interest. That's exactly the same level as it was in the same quarter last year. Free cash profit, and that's before the biomass adjustment in the quarter, is SEK393,000,000 down almost 17% from SEK472,000,000 in same quarter last year. And that gives earnings per share, that is ex biomass adjustment of NOK 0.86, down from NOK 1.13 last year. As we have also been talking or presenting during our previous presentation, the market for seafood has been significantly negatively impacted by COVID-nineteen.
This first started in the Asia market in the beginning of the year. And during Q1 and Q2, it turned out to be a global pandemic. This had negatively impacted, of course, the prices on the group's products and the demand from the market and have negatively impacted our revenues and earnings for the full for the year to date figures in 2020. The revenue by end September is SEK 16,700,000,000 down from SEK 17,400,000,000 and the EBITDA is SEK 2,800,000,000, down from SEK 3,300,000,000 in 2019. The depreciation in the period, 9 month period up to September is €1,100,000,000 and that is up from €9.93 €1,000,000,000 and that is up from €993,000,000 in the same period of 2019.
And we have an investment program going still going on within Post Smolt. And we also took over the new fishing troller, Kongstur, in 2020. We have not seen we have not still seen the full potential of all these investments, 1 point 7,000,000,000, down from SEK 2,300,000,000 in 2019. Income from associated companies is €158,000,000 down from €340,000,000 in 2019. And I have to add here that in 2019, we had gain from sale of 1 valveboat and 1 factory, which impacted the earnings in 2019.
The pretax profit by the end of September is SEK 1 point 5,000,000,000, down from SEK 2,400,000,000 in 2019. And we have an earnings per share an expireless adjustment of NOK 3.25, down from NOK 5.53. Lianwe has harvested a little bit over 44,000 tons of salmon and crook and that is down by 4% compared to same period in 2019. The spot prices rose substantially actually from Q2 this year in lockdown, but compared to Q3 in 2019, it's down by 2%. And the contract share for the company in the period is 31% and the price realization from contracts are higher than spot prices.
We are especially glad to announce that we see that our release from stock cost is significantly down from Q2 2020 but also down from same quarter 2019. So despite the challenging market situation caused by the COVID-nineteen, we see that the EBIT per kilo ex wild cash is 9.2, down from 9.8 in the same period last year. The wild catch segment, wild fish has had a challenging market, as we have already mentioned. And this quarter, we had a different cash composition compared to same quarter last year and lower catch rates. And the EBIT in the quarter is minus €50,000,000 down from €40,000,000 positive in the same quarter in 2019.
However, if we look into year to date figures, we can see that the EBIT is not that different from 2019. And we had a very good we had very good catch volumes of Cod in Q1 and Haddock as well. And the prices in Q1 pre COVID was substantially higher than what we see now, actually 22% higher for Cub and SAIT and 42% higher for hand dug compared to the prices that we see in the 3rd quarter. There is a lot of activity within the pelagic companies in Q3 in Ozawa Group, Peru. They finalized their 1st seasonal quota in July.
They have sold substantially high volume fish meal in Q3 this year compared to last year. However, the fish meal prices were approximately 7% lower than what we achieved in the same quarter in 2019. The prices for fish oil is approximately 11% lower, but as you can see, it's lower volume of more fish being sold in Q3 this year. The inventory by the end of Q3 is 2 tons of fish meal and 4,500 tons of fish oil. And the company had revenue of EUR 530,000,000 and EBITDA of €139,000,000 and EBITDA of €90,000,000 which is up from €54,000,000 in the same quarter last year.
Foodcorp, they have their main season in the first half of the year and they have low activity in the 3rd quarter and also 4th will have low activity in the 4th quarter. They had a remaining quota of 6,000 tonne, which they started to cash in August and they finalized that quota by the end of the quarter. They have sold a little bit above 11,000 tonnes of frozen products up from 8,000 to 800 tons in same quarter last year. And we also had a higher price achievement of frozen products this year compared to same period last year. It is good to see or it's comforting to see that with a higher raw material intake and also the higher production of frozen products, that shows in the earnings for the company.
So if we look into the 9 months ending in September 2020, you can see that EBIT is €150,000,000 up from €61,000,000 for the same period in 2019. However, when that said, it will be low activity in Q4. We will purchase raw material from the coast fleet for production for fishing and fish oil, but we expect negative earnings for FoodCorp in Q4. As I mentioned earlier, we're working on the salmon operation and then harvest from the spring 2019 generation, which has been a very, very challenging generation. And harvesting weights in Q3 were low and of course, a very low price achievement, but also the release of stock cost is very high.
We will finalize harvesting from the spring 2019 generation of Q4, but with a high release from stock or the cost of this generation that will negatively impact our earnings also in Q4. And as you can see, the EBIT kilohertz is negative. It's minus NOK 26.7 In the Q3 in 2019, it was minus NOK 0.6. The pelagic vessels in Berndenbirchen has a quarter around 2,000 tons of North Sea in the 3rd quarter. The macro season started up by end September and the 2 vessels will finalize their macro quota and Norwegian spring spawning Harring in the Q4.
And the vessel catching snow crab, there was a fishing ban as it has been in the previous years in Q3. So the vessel has been dried up in the Q3 and started up fishing again now in 4th quarter. So this has given, of course, low earnings in 3rd quarter for the vessels and revenue of €39,000,000 and an EBITDA of €7,000,000 and a negative EBIT of €4,000,000 The total assets in the group is close to €40,000,000,000 and the equity ratio is 59%. You can see that we have increased a little bit our intangible assets and we have bought some more selling licenses in 2020. Also, the tangible fixed assets has increased and that is, as I mentioned, in October, COGSFU, which was delivered now in 2020 and also the ongoing Osmalt investment in the and it remains important to have financial flexibility to support further organic growth, but also carry out strategic investments and sustain the company's dividend policy.
The net interest bearing debt by the end of September is €4,600,000,000 and that is up from €4,300,000,000 in the same quarter last in the same period last year. Cash flow, I will comment shortly on the Q3 and then go for the full 9 months up to September. In Q3, we have a cash from operating activities of SEK 867,000,000. We built a biomass in Q3 and of course, then we tie up some working capital as well. But within the Atlantic Companies, we loosen up in the working capital during 3rd quarters.
That is a good hedge actually. And looking at the period the 9 month period up to September, the cash from operating activities is EUR 2,200,000,000, a little bit down from €2,300,000,000 same period last year. The cash from investing activities is minus 1.1, increased from minus 600,000 in 2019. And as I mentioned, we are still having ongoing investments in Bosmod and we took over the new troller. Cash from financing activities is minus SEK 1 point 2,000,000,000 and down from NOK 1,600,000,000 in 20 16 2019, sorry.
And you can see that the paid loan dividends are lower in 2020 compared to 2019. Asphalt Seafood paid out in June NOK 2.5 per share in dividend. The Board had amended to pay additional dividend in 2020, but the Board has decided to not exercise the mandate. But based on the company's strong financial position, this decision will be reflected in the ordinary dividend payments for the financial year of 2020. To sum up, we have a cash position by the end of September of SEK 4,200,000,000 down from EUR 4,600,000,000 in the same period 2020.
Then going into looking at the different models we are operating in. Starting off with the fish meal market and with the emphasis on what's happening in Peru being the larger producer of fish meal and fish oil and thereafter looking at the bigger consumer, which is the Chinese market. Starting off, if we look at the table on the left hand side, you can see that obviously so far this year, the production has been more or less in line with how it was in 2019. And prices, you can see on the lower left graph that has been increasing during the last 4 to 6 weeks. And before the quota was announced in Peru, we achieved super prime prices over $1600 per tonne with a discount of $200 per tonne for standard fish leaf.
I would say that China is the main destination for what's being now bought presold and sold off last season and for the next season. And they have been the main driver behind the increase in prices. And of course, I would say that we have to wait a couple of weeks to see the impact on the fishing activity in terms of see the further development of the fish meat market from the quota in Peru. Stock situation is, I would say, lower than last year, also lower than the last 5 years in the period, 105 tonnes, 42% lower in China than it was the same period last year. The off takes of the stock is a bit less than it was last year, 23,000 tons.
And the prices we have been seeing after the announcement of the quota was close to $1800 per ton, which is a substantial gap to the prices which is sold in Peru also enhancing more trade for the fish feed. Two reasons why we have seen that the prices have been increasing in China. Mainly the first reason is that the Chinese currency has been appreciating against the U. S. Dollar and helping to lower China's import cost.
The second, I would say, argument is that fish really along with the Chinese coast has been poorer than expected also leading into a higher importation of international fish meal. If you look at the fish oil prices, you can see that it's been quite stable prices for the last months, around $2,000 in for feed grade and a premium of $200 in for the omega-three grade. And again, I would say that the yield and volume in Peru would be the what's determining how the price will develop in the next months. Now looking at the Atlantic Southern Supply, you can see that in 2020, we are looking at an annual growth of 4.2%. It's a limited growth of Norway 1.2%.
And the main growth is coming from the Americas with approximately 10% up. And then looking into 2021, you're seeing that we are not expecting a global growth in 2021 compared to 2020. But Americas will come down again, and we are expecting a growth of out of Europe on approximately 4.6% led by an increase in Norway of 4.7%. So I would say the underlying supply of parameters is, I would say, Altiglion into 2021. Prices, I would say, it's been a challenging year, also reflected in prices.
I would say that by the end of Q1 and into the second quarter, prices were heavily affected by the lockdown in the main markets of Southern and due to the COVID-nineteen. Situation improved, I would say, during 2nd quarter. And I would say that the visibility now is less into 4th quarter looking at the recent development and the increase of the COVID-nineteen virus happening again. What you can see that the consumption during the 1st 9 months has been led by an increase of from EU. Also the stakes has also been increasing their participation.
In percent, Japan is off And other markets has been going down in their consumption. It's mainly driven by less volume coming from consumed in China, which has been, I would say, a challenging market since during 20 20, when the market was now when it was in 2019, in fact, came in. Short term, I would say the full effect of COVID-nineteen remains unpredictable. I would say in terms of using longer glasses fundamentally seems quite sound. We are aiming to increase our volumes, including associated company with between 25,000 and 27,000 tons for next year.
Whitefish, core and salt, in particular for the most valuable fish, the Codfish and Handok, giving us a good foundation in 2021 for the Whitefish segment in Leerig. Going to the pelagic segment, looking at this season in Peru, we are excited of the quarter we just put and we are prepared with our vessels. And hopefully, we will have a good execution of the season. Of course, yet to be seen how the fishing will develop, but also feel that we will have a better start of 20 21 due to the quarter situation than we have in the same period in 2020 at the start. Also Chile still continuing with the healthy biomass and expect a higher growth in Chile compared with the same year 2021 versus 2020.
I would say most important period for the human consumption activity of pelaria, of our pelagic fishing vessels. And then we have been executing the system on an acceptable manner so far during Q4 and expecting to have a good contribution there also in Q4. I would say there's a mixed picture on the quota situation for next year, a bit less for blue whiting in quota, so a bit less raw material for fish meal activity and a higher raw material basis for human consumption activities expected during 2021. So that's it. Thank you for listening.