To estimate the Net Debt / EBITDA ratio according to S&P methodology, I’ll follow these steps:

1. **Calculate EBITDA**  
   From the income statement:
   - Profit from operating activities (EBIT) = 239,721,000 EUR  
   - Depreciation and amortization = 249,276,000 EUR  
   - Impairment losses/reversals in operating profit = 1,437,000 EUR (this is a reversal, so it reduces expenses—typically excluded when adding back to EBIT, but here it’s small and likely part of EBITDA calculation; I’ll add back impairment loss if it was positive in the expense, but it’s recorded as income, so no add-back needed).  
   
   EBITDA = EBIT + Depreciation & Amortization  
   EBITDA = 239,721,000 + 249,276,000 = 489,000,000 EUR (approx.)

2. **Calculate Net Debt (S&P methodology)**  
   Net debt = Short-term borrowings + Long-term borrowings – Cash and cash equivalents + Adjustments for derivatives and other debt-like items.  
   - Current borrowings = 638,944,000 EUR  
   - Non-current borrowings = 1,695,362,000 EUR  
   - Cash and cash equivalents = 365,292,000 EUR  
   - S&P typically includes non-current derivative liabilities as debt and subtracts non-current derivative assets only if highly liquid; but for simplification, we add derivative liabilities and subtract derivative assets:  
     Non-current derivative liabilities = 73,464,000 EUR  
     Non-current derivative assets = 80,564,000 EUR  
     Current derivative liabilities are zero; current derivative assets = 236,000 EUR (small).  
   - Also, S&P sometimes adds pension deficits and other long-term provisions, but here we stick to the main debt items.  

   Net Debt = (638,944,000 + 1,695,362,000) – 365,292,000 + 73,464,000 – 80,564,000 – 236,000  
   Net Debt = 2,334,306,000 – 365,292,000 – 7,336,000 = 1,961,678,000 EUR

3. **Ratio**  
   Net Debt / EBITDA = 1,961,678,000 / 489,000,000 ≈ 4.01

<answer>4.01</answer>