I need to estimate the FFO / Net Debt ratio for 2022.

**Step 1: Calculate FFO (Funds From Operations)**

FFO is typically calculated as:
FFO = Net Income + Depreciation & Amortization + Deferred Tax Changes + Other Non-Cash Items

For the period 2022-01-01 to 2023-01-01 (which represents fiscal year 2022):

- Net Income (Profit Loss): 111,771,000 EUR
- Depreciation & Amortization: 249,276,000 EUR
- Impairment Loss: 1,437,000 EUR
- Changes in Other Provisions: -2,230,000 EUR (negative means provision increase, which is a non-cash charge to add back... wait, let me reconsider)

Actually, let me use a simpler approach. FFO is often approximated as:
FFO = Cash Flows from Operating Activities - changes in working capital

But since I don't have a detailed working capital breakdown, let me use:
FFO ≈ Net Income + Depreciation & Amortization

FFO = 111,771,000 + 249,276,000 = 361,047,000 EUR

Alternatively, I could also consider the Energy Sector Extraordinary Contribution (28,019,000) as it may be non-cash, but it's likely a cash tax, so I'll keep it simple.

Actually, a more standard approach for utilities:
FFO = Net Income + D&A + Impairment losses + Changes in provisions (non-cash)
= 111,771,000 + 249,276,000 + 1,437,000 + (-2,230,000)

Wait, "Changes In Other Provisions" of -2,230,000 — if negative means a net provision increase (expense), that's a non-cash charge to add back. But the sign convention isn't clear. Let me just stick with the simpler calculation.

FFO ≈ 111,771,000 + 249,276,000 = 361,047,000 EUR

**Step 2: Calculate Net Debt**

Net Debt = Total Borrowings - Cash and Cash Equivalents

At 2023-01-01 (end of fiscal year 2022):
- Long-term Borrowings: 1,695,362,000 EUR
- Current Borrowings: 638,944,000 EUR
- Total Borrowings: 1,695,362,000 + 638,944,000 = 2,334,306,000 EUR
- Cash and Cash Equivalents: 365,292,000 EUR

Net Debt = 2,334,306,000 - 365,292,000 = 1,969,014,000 EUR

**Step 3: Calculate FFO / Net Debt**

FFO / Net Debt = 361,047,000 / 1,969,014,000 = 0.1834

So approximately 18.3%.

Let me double-check with a slightly different FFO calculation. Sometimes FFO also adds back deferred tax changes:

Deferred Tax Assets went from 96,673,000 to 69,803,000 (decrease of 26,870,000)
Deferred Tax Liabilities went from 107,569,000 to 115,064,000 (increase of 7,495,000)

Net deferred tax change impact on P&L (non-cash): This gets complicated. Let me stick with the simpler approach.

FFO / Net Debt ≈ 361,047,000 / 1,969,014,000 ≈ 0.1834

<answer>0.183</answer>