As described in Example 22, Stora Enso Oyj (Helsinki Stock Exchange: STERV) reported net sales of €10,814.8 million for 2012. Based on 788.6 million shares outstanding and a stock price of €6.72 on 16 September 2013, the total market value of the company’s equity was €5,299.4 million. The company reported debt of €4,522.3 million, minority interest of €91.5 million, and cash of €1,849.9 million. Assume that the market value of the company’s debt is equal to the amount reported. Calculate the company’s EV/S.