I need to calculate Net Debt / EBITDA for 2022 based on S&P methodology.

## EBITDA

The EBITDA is directly given:
"Profit Loss From Operating Activities Before Interest Taxes Depreciation And Amortisation Expense" 2022-01-01 - 2023-01-01: 499,430,000 EUR

This is the EBITDA for the fiscal year 2022.

## Net Debt (S&P Methodology)

S&P's Net Debt typically includes:
- Total debt (short-term + long-term borrowings, including lease liabilities)
- Minus: Cash and cash equivalents and short-term investments

Let me identify the debt components as of end of 2022 (balance sheet date 2023-01-01):

**Non-current financial liabilities:**
- Other Noncurrent Financial Liabilities: 1,751,255,000 EUR
- Noncurrent Financial Liabilities At Fair Value Through Profit Or Loss: 0 EUR (reported as -0)
- Noncurrent Lease Liabilities: 150,955,000 EUR

**Current financial liabilities:**
- Other Current Financial Liabilities: 389,716,000 EUR
- Current Financial Liabilities At Fair Value Through Profit Or Loss: 76,644,000 EUR
- Current Lease Liabilities: 6,362,000 EUR

S&P methodology typically includes lease liabilities as debt. For derivatives at fair value through P&L, S&P may or may not include them depending on whether they represent actual debt or derivative positions. The current financial liabilities at fair value (76,644,000) likely represent derivative liabilities, which S&P generally excludes from debt. Similarly, the non-current ones are 0.

**Total Debt (S&P approach):**
- Non-current financial liabilities: 1,751,255,000
- Non-current lease liabilities: 150,955,000
- Current financial liabilities: 389,716,000
- Current lease liabilities: 6,362,000

Total Gross Debt = 1,751,255,000 + 150,955,000 + 389,716,000 + 6,362,000 = 2,298,288,000 EUR

**Cash and liquid investments:**
- Cash and Cash Equivalents: 392,811,000 EUR
- S&P typically considers readily available cash. They might also consider current financial assets, but S&P is generally conservative and may only subtract cash and cash equivalents.

However, S&P sometimes also subtracts short-term investments that are highly liquid. The "Other Current Financial Assets" of 211,136,000 and "Current Financial Assets At Fair Value Through Profit Or Loss" of 141,568,000 could include various items. S&P typically only subtracts surplus cash (cash and cash equivalents).

**Net Debt = Gross Debt - Cash**
= 2,298,288,000 - 392,811,000 = 1,905,477,000 EUR

**Net Debt / EBITDA** = 1,905,477,000 / 499,430,000 = 3.815

However, there are assets/liabilities held for sale. The company had significant discontinued operations. S&P might adjust EBITDA to include discontinued operations or exclude them. But the EBITDA figure given is from continuing operations.

Also, S&P might exclude lease liabilities and use a different EBITDA. But under S&P's current methodology, they typically include lease liabilities in debt and don't add back lease expenses separately (since IFRS 16 already capitalizes leases, EBITDA already excludes lease depreciation and interest).

Let me reconsider - if I exclude derivative-related financial liabilities (the fair value through P&L items) from debt:

Gross Debt = 1,751,255,000 + 150,955,000 + 389,716,000 + 6,362,000 = 2,298,288,000

Net Debt = 2,298,288,000 - 392,811,000 = 1,905,477,000

Net Debt / EBITDA = 1,905,477,000 / 499,430,000 ≈ 3.82

Rounding: approximately 3.8

<answer>3.8</answer>