I need to calculate Net Debt / EBITDA for 2022 (end of 2022, i.e., 2023-01-01 balance sheet) and 2021 (end of 2021, i.e., 2022-01-01 balance sheet), then compare.

**Step 1: Calculate Net Debt**

Net Debt = Total Financial Debt - Cash and Cash Equivalents

Financial Debt = Noncurrent Financial Liabilities + Current Financial Liabilities

**At end of 2022 (2023-01-01):**
- Noncurrent Financial Liabilities: 2,844,559,000
- Current Financial Liabilities: 1,109,297,000
- Total Financial Debt: 3,953,856,000
- Cash: 409,252,000
- Net Debt: 3,953,856,000 - 409,252,000 = 3,544,604,000

**At end of 2021 (2022-01-01):**
- Noncurrent Financial Liabilities: 1,834,155,000
- Current Financial Liabilities: 1,462,453,000
- Total Financial Debt: 3,296,608,000
- Cash: 318,562,000
- Net Debt: 3,296,608,000 - 318,562,000 = 2,978,046,000

**Step 2: EBITDA**

- EBITDA for 2022 (2022-01-01 to 2023-01-01): 3,160,679,000
- EBITDA for 2021 (2021-01-01 to 2022-01-01): 1,578,959,000

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

For 2022: 3,544,604,000 / 3,160,679,000 = **1.12x**

For 2021: 2,978,046,000 / 1,578,959,000 = **1.89x**

**Step 4: Compare**

Change = 1.12x - 1.89x = -0.77x

The ratio decreased by 0.77x, which is more than 0.3x improvement. This indicates an **Improving** leverage trend.

<answer>Improving</answer>