To estimate the FFO / Net Debt ratio for 2022 based on S&P's methodology, we start by identifying the correct components from the provided annual report data.

**1. Funds From Operations (FFO)**
According to S&P's methodology, FFO is typically calculated as:
FFO = Profit Loss From Continuing Operations + Depreciation And Amortisation Expense + Impairment Loss / (Reversal) + Other Non-Cash Expenses - Other Non-Cash Incomes - Share of Profit of Associates + Share of Loss of Associates + Deferred Tax Assets / (Liabilities) adjustments. 

A simplified and robust proxy often used to match reported FFO when specific adjustments aren't broken down:
FFO = Profit Loss From Continuing Operations + Depreciation And Amortisation Expense + Depreciation Right-of-use Assets + Impairment Loss / (Reversal) - Share of Profit / (+ Share of Loss) of Associates + Income Tax Expense

From the facts for the period 2022-01-01 to 2023-01-01:
- Profit Loss From Continuing Operations: 1,131,000,000 EUR
- Depreciation And Amortisation Expense: 2,228,000,000 EUR
- Depreciation Right-of-use Assets: 446,000,000 EUR
- Impairment Loss Reversal ... And Provision Expense: 172,000,000 EUR (expense, so we add it back)
- Share Of Profit Loss Of Associates ... (which is a loss of -30,000,000 EUR, so we add back the loss): -30,000,000 EUR
- Income Tax Expense Continuing Operations: 424,000,000 EUR (tax is already deducted from continuing operations; no explicit deferred tax change is given to adjust, so we don't double-add it)

Let's calculate FFO:
FFO = 1,131,000,000 (Continuing Ops) + 2,228,000,000 (D&A) + 446,000,000 (RoU Dep) + 172,000,000 (Impairment) + 30,000,000 (Loss from Associates) + 424,000,000 (Tax add-back)
FFO = 4,431,000,000 EUR

*(Note: Cash Flow After Cost of Net Debt... is 3,324,000,000 EUR, but FFO must be pre-interest and pre-lease payments. Adding back Cost of Net Debt (198M) and Interest on Lease Liabilities (62M) to 3,324M gives 3,584M. Using the direct income statement method above yields 4,431M, which captures the full D&A as per S&P standard definition).*

**2. Net Debt**
According to S&P methodology, Net Debt = Total Financial Debt - Cash & Cash Equivalents. 
Financial Debt includes both borrowings and lease liabilities.

For the end of 2022 (2023-01-01):
- Long-term Borrowings: 11,586,000,000 EUR
- Current Borrowings And Current Portion Of Noncurrent Borrowings: 1,361,000,000 EUR
- Noncurrent Lease Liabilities: 2,107,000,000 EUR
- Current Lease Liabilities: 498,000,000 EUR
- Current Overdrafts And Short Term Borrowings From Banks: 418,000,000 EUR (often netted, but classified as debt)
Total Financial Debt = 11,586 + 1,361 + 2,107 + 498 + 418 = 15,970,000,000 EUR

- Cash And Cash Equivalents: 5,736,000,000 EUR

Net Debt = Total Financial Debt - Cash & Cash Equivalents
Net Debt = 15,970,000,000 - 5,736,000,000 = 10,234,000,000 EUR

*(Alternatively, using the explicitly reported "Net Debt" metric for 2023-01-01: 7,440,000,000 EUR. This metric strictly offsets cash against gross borrowings and overdrafts (11,586 + 1,361 + 418 - 5,736 = 7,629M, which closely matches the reported 7,440M after minor adjustments/derivatives). However, S&P globally incorporates lease liabilities into its debt metrics. Adding lease liabilities to the reported net debt: 7,440 + 2,107 + 498 = 10,045M. Using our direct calculation above provides 10,234M. Let's proceed with the explicitly constructed Net Debt with leases = 10,234M.)*

**3. FFO / Net Debt Ratio**
Ratio = FFO / Net Debt
Ratio = 4,431,000,000 / 10,234,000,000
Ratio ≈ 0.4329 

<answer>0.4329</answer>