To estimate the Funds From Operations (FFO) to Net Debt ratio for Ørsted A/S for the year 2022, we first identify the relevant components from the provided data.

**1. Funds From Operations (FFO):**
FFO is typically calculated as Cash Flow from Operating Activities adjusted for certain items, but a standard proxy is "Cash Flows from Operating Activities" (sometimes excluding working capital changes, but without specific guidance, we use the provided Cash Flow from Operating Activities).
*   Cash Flows from Operating Activities (2022): 11,924,000,000 DKK.

**2. Net Debt:**
Net Debt is calculated as total interest-bearing debt (Borrowings) minus Cash and Cash Equivalents.
*   Long-term Borrowings (2023-01-01): 60,451,000,000 DKK
*   Short-term Borrowings (2023-01-01): 2,830,000,000 DKK
*   Cash (2023-01-01): 16,178,000,000 DKK
*   Total Debt = 60,451,000,000 + 2,830,000,000 = 63,281,000,000 DKK
*   Net Debt = 63,281,000,000 - 16,178,000,000 = 47,103,000,000 DKK

*(Note: In utility financial analysis, Hybrid Capital is often treated as equity or partially as debt. Following standard reporting for Ørsted, where Hybrid Capital is classified within Equity (19,793,000,000 DKK), we exclude it from debt.)*

**3. FFO / Net Debt Ratio:**
*   Ratio = FFO / Net Debt
*   Ratio = 11,924,000,000 / 47,103,000,000 ≈ 0.25314

Converting this to a percentage representation:
*   Ratio ≈ 25.31%

<answer>0.2531</answer>