To estimate the FFO (Funds From Operations) to Net Debt ratio for 2022 (using 2022-01-01 to 2023-01-01 data for the full year 2022), we perform the following calculations: **1. Calculate FFO (Funds From Operations):** While definitions can vary, FFO is typically defined as Net Income + Depreciation/Amortization ± Other non-cash charges. * Profit/Loss (Net Income): 111,771,000 EUR * Depreciation And Amortisation Expense: 249,276,000 EUR * Changes In Other Provisions: -2,230,000 EUR * Share Of Profit/Loss Of Associates (Equity method): -11,812,000 EUR (This is usually deducted if not distributing cash) * *Estimation:* 111,771,000 + 249,276,000 - 2,230,000 - 11,812,000 = 347,005,000 EUR. **2. Calculate Net Debt:** Net Debt is calculated as (Current Borrowings + Noncurrent Borrowings) - Cash And Cash Equivalents. * Longterm Borrowings: 1,695,362,000 EUR * Current Borrowings And Current Portion Of Noncurrent Borrowings: 638,944,000 EUR * Total Debt = 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 **3. FFO / Net Debt Ratio:** * Ratio = 347,005,000 / 1,969,014,000 ≈ 0.17623 (Note: Using the reported "Cash Flows From Used In Operating Activities" as a proxy for FFO (613,466,000) would yield a higher ratio, but the standard accounting adjustment is provided above). 0.17623