I need to estimate the FFO / Net Debt ratio for 2022 (the fiscal year ending 2023-01-01).

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

FFO is typically calculated as:
FFO = Net Income + Depreciation & Amortization + Other non-cash adjustments

A common approach is:
FFO = Net Income + D&A + Non-cash items from the cash flow statement

From the cash flow statement, I can see:
- Profit/Loss (Net Income): 681,187,000 EUR (2022-01-01 - 2023-01-01)
- Adjustments for D&A: 544,992,000 EUR
- Other adjustments to reconcile profit/loss: 47,579,000 EUR (this includes various non-cash items)

But a simpler and more standard approach for FFO:

FFO ≈ Cash Flows from Operating Activities - Working Capital Changes

From the data:
- Cash Flows from Operating Activities: 1,566,829,000 EUR
- Increase/Decrease in Working Capital: 574,568,000 EUR (this was subtracted in arriving at operating cash flows, but looking at the structure, working capital changes are included in operating cash flows)

Actually, let me reconsider. FFO is often defined as:
FFO = Net Income + D&A + Deferred taxes and other non-cash items

Or alternatively: FFO = Operating Cash Flow - Working Capital Changes

Operating Cash Flow = 1,566,829,000
Working Capital Change = -574,568,000 (it appears to be a use/source - looking at the sign, the increase in working capital of 574,568 seems to be included positively, meaning it reduced cash)

Actually, looking more carefully at the cash flow structure:
- Profit: 681,187,000
- Adjustments: 592,571,000
- Working capital: 574,568,000 (this seems odd - likely represents changes that increased operating cash)
- Other operating: -469,827,000
- Total Operating CF: ~1,566,829,000 ✓ (681,187 + 592,571 - 574,568 - 469,827 ≈ doesn't quite add up, but let me use: 681,187 + 592,571 + 574,568 - 469,827 = wait)

For FFO, I'll use: Net Income + D&A = 681,187 + 544,992 = 1,226,179,000 EUR

This is a reasonable FFO approximation.

**Step 2: Calculate Net Debt**

Net Debt = Total Financial Debt - Cash and Cash Equivalents - Current Financial Assets

Total borrowings:
- Long-term Borrowings: 5,491,124,000
- Current Borrowings: 721,845,000
- Other Noncurrent Financial Liabilities: 52,631,000
- Other Current Financial Liabilities: 983,432,000

Total debt (borrowings only): 5,491,124 + 721,845 = 6,212,969,000

Or including all financial liabilities:
- Noncurrent Financial Liabilities: 5,543,755,000
- Current Financial Liabilities: 1,705,277,000
Total = 7,249,032,000

Cash and equivalents: 794,824,000
Current Financial Assets: 752,505,000

For Net Debt, using borrowings approach:
Net Debt = 6,212,969 - 794,824 - 752,505 = 4,665,640,000

Or using total financial liabilities:
Net Debt = 7,249,032 - 794,824 - 752,505 = 5,701,703,000

The more standard approach uses borrowings:
Net Debt = 5,491,124 + 721,845 - 794,824 - 752,505 = 4,665,640,000

**Step 3: FFO / Net Debt**

FFO / Net Debt = 1,226,179 / 4,665,640 = 0.2629

Or approximately 26.3%

Let me also try a more conservative FFO (closer to operating cash flow before working capital):
FFO = 681,187 + 592,571 = 1,273,758,000
FFO/Net Debt = 1,273,758 / 4,665,640 = 0.273

Using the simpler FFO = Net Income + D&A:
1,226,179 / 4,665,640 ≈ 0.263

<answer>0.263</answer>