To compute the Net Debt / EBITDA ratio for 2022 under S&P’s methodology we first determine net debt at the end of the fiscal year (2022‑12‑31) and then the EBITDA for that year.

**1. Net Debt**  
- Total debt comprises long‑term borrowings and the current portion of borrowings (short‑term debt).  
  - Long‑term borrowings (2023‑01‑01) = 1,695,362 k €  
  - Current borrowings (2023‑01‑01) = 638,944 k €  
  - Total debt = 1,695,362 + 638,944 = 2,334,306 k €  

- Cash and cash equivalents at the same date are 365,292 k €.  
- Net debt = Total debt − Cash = 2,334,306 − 365,292 = 1,969,014 k €.

**2. EBITDA**  
EBITDA is approximated as operating profit (EBIT) plus depreciation and amortisation, which is the usual starting point for S&P adjustments.

- Operating profit (Profit Loss From Operating Activities) for 2022 = 239,721 k €  
- Depreciation and amortisation expense for 2022 = 249,276 k €  
- EBITDA = 239,721 + 249,276 = 488,997 k €.

**3. Ratio**  
Net Debt / EBITDA = 1,969,014 / 488,997 ≈ 4.03.

Thus, the estimated Net Debt / EBITDA ratio for 2022 is approximately **4.0**.

<answer>4.03</answer>