Chr. Hansen Holding A/S							Chr. Hansen Group
2003/04		2004/05				DKKm	2004/05				2003/04
					7	Tax on profit from ordinary activities
						Current tax on profit from
76		154				ordinary activities		76				(15)
						Adjustment of deferred tax on profit
-		(97)				from ordinary activities		(76)				(8)
(4)		(11)				Prior-year adjustments		2				(3)
72		46				Total, continuing operations		2				(26)
-		-				Discountinued operations		73				120
72		46				Total		75				94
						Reconciliation of tax rate
						Danish income tax rate	28%	1,231			30%	61
						Deviation of foreign subsidiaries’ tax
						relative to Danish corporate
						income tax rate	1%	23			11%	21
						Non-taxable income and
						non-deductible expenses	(28%)	(1,224)			(1%)	(2)
						Adjustment of deferred tax for
						change in income tax rate	0%	2			0%	1
						Prior-year adjustments	0%	(15)			(5%)	(10)
						Other adjustments	1%	45			3%	5
						Non-deductible amortization of goodwill	0%	13			9%	18
						Effective tax rate	2%	75			47%	94
						Allocated as follows:
						Continuing operations	(3%)	2			24%	(26)
						Discountinued operations	2%	73			39%	120
						Total	2%	75			47%	94