I need to calculate FFO / Net Debt 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 items

From the cash flow statement, I can derive FFO. A common approach is:

FFO = Profit/Loss + D&A + Other non-cash adjustments (excluding working capital changes)

From the data for 2022-01-01 to 2023-01-01:
- Profit Loss: -879,000,000 EUR
- Depreciation & Amortization: 1,233,000,000 EUR
- Loss on disposal of non-current assets: 38,000,000 EUR
- Undistributed profits of equity method investments: -120,000,000 EUR (adjustment is positive 120M, meaning we add back the equity income not received as cash)
- Dividends received: 92,000,000 EUR
- Adjustments for provisions: 104,000,000 EUR (non-cash)
- Other non-cash items: 1,347,000,000 EUR (but this likely includes items like finance costs adjustments)

Wait, let me reconsider. FFO for credit analysis (like S&P/Moody's) is typically:

FFO = Cash flow from operations - working capital changes

From the cash flow data:
- Cash flows from operating activities: 1,196,000,000 EUR

But this includes working capital changes. Let me back out working capital changes.

Operating cash flow before working capital changes:
= Operating CF - WC changes (excluding EEG) - WC changes (EEG)
= 1,196 - (-736) - (-1,792) = 1,196 + 736 + 1,792 = 3,724 million

Wait, let me reconsider. The cash flow statement shows:
- Cash flows from operations excluding EEG: 596M (this already includes WC changes excluding EEG and taxes paid)
- Then EEG WC changes: -1,792M (negative means cash inflow from EEG WC)
- But wait: "Increase Decrease In Working Capital Eeg Working Capital" 2022-01-01 - 2023-01-01: -1,792M

Actually, looking at it: Cash Flows From Used In Operating Activities = 596 + (-1,792) ... no, 596 + something = 1,196. So 1,196 - 596 = 600. That means EEG WC contributed 600M? Let me re-examine.

Actually: Cash Flows from operations excluding EEG = 596M, and total operating CF = 1,196M, so EEG WC effect = 1,196 - 596 = 600M.

For FFO, I should exclude all working capital changes:
From the "excluding EEG" section:
- WC changes excluding EEG: -736M (this was subtracted to get to 596M)
- So before WC (excl EEG) and before taxes: 596 + 736 + 231 (taxes) = 1,563M... 

Let me just use a simpler approach:

FFO ≈ Net Income + D&A + Deferred tax changes + other non-cash items
= -879 + 1,233 + 38 - 120 + 92 + 104 + 1,347 - 231 (taxes paid)
= -879 + 1,233 + 38 - 120 + 92 + 104 + 1,347 - 231 = 1,584M

Hmm, but more standard: FFO = Operating CF + WC changes back out = 1,196 + 736 = 1,932M (excluding EEG WC but adding back non-EEG WC). Or including both: 1,196 + 736 + 1,792 = 3,724M? That seems too high.

Let me use: FFO = Operating CF excluding WC = 1,196 + 736 = 1,932M (only backing out non-EEG WC since EEG is operational).

## Step 2: Calculate Net Debt

Net Debt = Total borrowings + Lease liabilities - Cash
= (19,006 + 709) + (574 + 155) - 6,547
= 19,715 + 729 - 6,547
= 13,897M

Excluding leases: 19,715 - 6,547 = 13,168M

## Step 3: FFO / Net Debt

Using FFO = 1,932M and Net Debt = 13,897M:
FFO/Net Debt = 1,932 / 13,897 ≈ 0.139 or ~13.9%

Using Net Debt without leases: 1,932/13,168 ≈ 14.7%

A reasonable estimate is approximately 0.14.

<answer>0.14</answer>