To estimate the Net Debt / EBITDA ratio for 2022 based on the S&P methodology, we need to calculate the Net Debt and the EBITDA for the period ending 2022-01-01 to 2023-01-01 (which corresponds to the 2022 fiscal year).

1. **EBITDA Calculation**: 
The report directly provides the EBITDA under the line item "Profit Loss From Operating Activities Before Interest Taxes Depreciation And Amortisation Expense" for the 2022 period.
EBITDA = 32,057,000,000 DKK.

2. **Net Debt Calculation**:
Under S&P methodology, Net Debt is typically calculated as: Total Financial Debt minus Cash and Cash Equivalents. 
- Total Financial Debt includes both short-term and long-term borrowings (and often lease liabilities, though we will calculate the strict borrowing-based Net Debt first and then evaluate). 
- Long-term Borrowings (2023-01-01) = 60,451,000,000 DKK
- Short-term Borrowings (2023-01-01) = 2,830,000,000 DKK
- Total Borrowings = 60,451,000,000 + 2,830,000,000 = 63,281,000,000 DKK.
- Cash and Cash Equivalents (2023-01-01) = 16,178,000,000 DKK (reported as "Cash").
- Net Debt (Borrowings - Cash) = 63,281,000,000 - 16,178,000,000 = 47,103,000,000 DKK.

*(Note: If we include lease liabilities in the financial debt definition as is common in some leverage calculations: Noncurrent Lease Liabilities = 7,697,000,000 DKK and Current Lease Liabilities = 569,000,000 DKK, totaling 8,266,000,000 DKK. Total Debt with leases = 71,547,000,000 DKK. Net Debt with leases = 71,547,000,000 - 16,178,000,000 = 55,369,000,000 DKK).*

3. **Net Debt / EBITDA Ratio**:
- Using strict borrowings (Total Borrowings - Cash): 47,103,000,000 / 32,057,000,000 ≈ 1.47.
- Using the broader financial debt definition including leases (Total Borrowings + Leases - Cash): 55,369,000,000 / 32,057,000,000 ≈ 1.73.

S&P's foundational methodology defines debt as all interest-bearing financial obligations (borrowings) net of cash. While lease liabilities are increasingly treated as debt equivalents under IFRS 16 for ratio adjustments, the core "Net Debt to EBITDA" metric typically starts with standard interest-bearing debt. Both 1.47 and 1.73 are valid estimates depending on the strictness of the lease inclusion, but 1.47 strictly adheres to the traditional borrowing definition. Given standard S&P adjustments typically treat leases separately or explicitly state their inclusion, 1.47 represents the primary Net Debt/EBITDA ratio for the borrowings. 

We'll use the standard primary definition (Borrowings - Cash) / EBITDA.
47,103,000,000 / 32,057,000,000 = 1.4697...

<answer>1.47</answer>