To estimate Net Debt / EBITDA for 2022 using an S&P-style approach:

1. **Estimate gross debt**
   - Noncurrent financial liabilities: 5,689.9 million
   - Current financial liabilities: 650.1 million
   - Noncurrent lease liabilities: 55.1 million
   - Current lease liabilities: 21.3 million

   Gross debt = 5,689.9 + 650.1 + 55.1 + 21.3 = **6,416.4 million EUR**

2. **Subtract cash and cash equivalents**
   - Cash and cash equivalents: 1,942.4 million EUR

   Net debt = 6,416.4 − 1,942.4 = **4,474.0 million EUR**

3. **Estimate EBITDA**
   - Profit from operating activities / EBIT: 533.8 million
   - Amortisation, depreciation and provisions: 667.1 million

   EBITDA = 533.8 + 667.1 = **1,200.9 million EUR**

4. **Calculate Net Debt / EBITDA**

   Net Debt / EBITDA = 4,474.0 / 1,200.9 = **3.73**

<answer>3.73</answer>