To estimate the FFO / Net Debt ratio for 2022, we need to calculate both the Funds From Operations (FFO) and the Net Debt for the period ending 2022-01-01 to 2023-01-01 (which corresponds to the fiscal year 2022). 1. **Calculate Funds From Operations (FFO)**: A common standard definition for FFO (often used in credit metrics) is: FFO = Profit Loss From Operating Activities + Depreciation, Amortisation, And Impairment Loss. From the given facts: - "Profit Loss From Operating Activities" (2022): 1,333,500,000 EUR - "Depreciation Amortisation And Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss" (2022): 725,700,000 EUR FFO = 1,333,500,000 + 725,700,000 = 2,059,200,000 EUR. 2. **Calculate Net Debt**: Net Debt = Total Financial Debt - Cash and Cash Equivalents. Total Financial Debt typically includes both short-term and long-term borrowings plus the current portion of long-term borrowings. - "Longterm Borrowings" (2023-01-01): 8,416,700,000 EUR - "Shortterm Borrowings" (2023-01-01): 444,100,000 EUR - "Current Portion Of Longterm Borrowings" (2023-01-01): 1,909,300,000 EUR Total Financial Debt = 8,416,700,000 + 444,100,000 + 1,909,300,000 = 10,770,100,000 EUR. Cash and Cash Equivalents: - "Cash And Cash Equivalents" (2023-01-01): 2,155,100,000 EUR. Net Debt = 10,770,100,000 - 2,155,100,000 = 8,615,000,000 EUR. 3. **Calculate FFO / Net Debt Ratio**: Ratio = FFO / Net Debt Ratio = 2,059,200,000 / 8,615,000,000 = 0.239024... Rounding to three decimal places, we get 0.239. 0.239