To estimate the Net Debt / EBITDA ratio for VERBUND AG for the year 2022 (period 2022-01-01 to 2023-01-01) based on S&P methodology, we need to determine two components: Net Debt and EBITDA.

**1. Determine EBITDA**
The annual report explicitly provides the EBITDA figure for the period 2022-01-01 - 2023-01-01.
*   **EBITDA (2022):** 3,160,679,000 EUR

**2. Determine Net Debt**
S&P Global Ratings generally defines Net Debt as Total Debt minus Cash and Cash Equivalents (and sometimes highly liquid short-term investments). Total Debt typically includes interest-bearing financial liabilities (both current and non-current). It may also include lease liabilities, depending on the specific adjustment, but standard financial debt is the core component. We will use the reported Financial Liabilities.

*   **Total Financial Liabilities (Debt):**
    *   Noncurrent Financial Liabilities (2023-01-01 balance, representing end of 2022): 2,844,559,000 EUR
    *   Current Financial Liabilities (2023-01-01 balance, representing end of 2022): 1,109,297,000 EUR
    *   *Note: Lease liabilities are often separated. The report lists "Payments Of Lease Liabilities Classified As Financing Activities", implying leases are part of financial liabilities or treated similarly. However, standard "Financial Liabilities" lines in IFRS statements usually capture interest-bearing debt. Let's look at the specific line items.*
    *   The report lists "Noncurrent Financial Liabilities" and "Current Financial Liabilities".
    *   Total Financial Liabilities = 2,844,559,000 + 1,109,297,000 = 3,953,856,000 EUR.

    *Self-Correction/Refinement on Debt Definition:* S&P often includes lease liabilities in debt. The report does not explicitly break out lease liabilities within the "Financial Liabilities" line item in the summary provided, but IFRS 16 requires leases to be recognized as liabilities. Often, "Financial Liabilities" in these summaries includes bonds, loans, and leases. Without a specific "Lease Liability" line item separate from "Financial Liabilities" in the provided text, we assume the "Financial Liabilities" lines capture the interest-bearing debt obligations. If "Right-of-use Assets" are present (146,613,000 EUR), there are corresponding lease liabilities. These are likely embedded in the Financial Liabilities or reported separately. Looking at the liabilities section:
    *   Noncurrent Liabilities components: Noncurrent Financial Liabilities, Noncurrent Provisions, Deferred Tax Liabilities, Contributions to Building Costs, Noncurrent Derivative Financial Liabilities, Noncurrent Payables.
    *   Current Liabilities components: Current Financial Liabilities, Current Provisions, Current Tax Liabilities, Current Derivative Financial Liabilities, Trade and Other Current Payables.
    
    Standard S&P calculation for Net Debt:
    Net Debt = (Short-term Debt + Long-term Debt) - Cash and Cash Equivalents.
    
    Let's check if "Derivative Financial Liabilities" should be included. S&P typically excludes derivatives from the core debt calculation unless they are synthetic debt, but includes them in gross debt adjustments if significant. However, the standard "Net Debt" metric usually focuses on funded debt (loans/bonds). We will stick to "Financial Liabilities" as the primary debt proxy.

    *   **Total Debt** = Noncurrent Financial Liabilities + Current Financial Liabilities
    *   Total Debt = 2,844,559,000 EUR + 1,109,297,000 EUR = 3,953,856,000 EUR.

*   **Cash and Cash Equivalents:**
    *   Cash And Cash Equivalents (2023-01-01 balance): 409,252,000 EUR.

*   **Net Debt Calculation:**
    *   Net Debt = Total Debt - Cash and Cash Equivalents
    *   Net Debt = 3,953,856,000 EUR - 409,252,000 EUR
    *   Net Debt = 3,544,604,000 EUR.

    *Note on S&P Adjustments:* S&P might add back/subtract other items like pension deficits or include minority interest in debt if it's mandatory redeemable. However, with the provided data, the most robust estimate uses the explicit Financial Liabilities and Cash. Some definitions of Net Debt also subtract short-term investments. The report lists "Investments And Other Receivables" and "Current Derivative Financial Assets". S&P often treats "Cash and Cash Equivalents" strictly. We will stick to the strict Cash definition provided.

**3. Calculate the Ratio**
*   Net Debt / EBITDA = 3,544,604,000 / 3,160,679,000

Calculation:
3,544,604,000 / 3,160,679,000 ≈ 1.12146

Let's double-check if "Lease Liabilities" are excluded from "Financial Liabilities". In many IFRS reports, "Financial Liabilities" is a broad category. If leases were separate, they would likely be listed. Since they are not listed as a separate main line item in the Liabilities breakdown provided (only Right-of-use Assets are on the asset side), it is highly probable they are included within "Financial Liabilities" or "Other Payables". Given the magnitude, excluding them would understate debt. Including them via the "Financial Liabilities" line is the standard approach when specific lease liability lines are absent in the summary.

Another consideration: S&P sometimes uses *average* debt or *year-end* debt. For a snapshot ratio at the end of 2022, year-end debt is appropriate. S&P also sometimes adjusts EBITDA. The reported EBITDA is 3,160,679,000. S&P might add back share-based compensation or other non-cash items if not already included, but "EBITDA" from the report is the standard starting point. Without specific S&P adjustment data (like rent expense add-backs if leases were operating, which they aren't under IFRS 16), we use the reported EBITDA.

Let's refine the Debt figure.
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: 3,544,604,000

Ratio: 3,544,604,000 / 3,160,679,000 = 1.12146...

Rounding to two decimal places, the ratio is 1.12.

<answer>1.12</answer>