FFO / Net debt can be estimated as:

**FFO = Cash flow from operations before working-capital changes − cash interest paid − cash taxes paid**

Using 2022 data:
- Cash flows from operations before changes in working capital = **1,202.0 million**
- Finance costs paid = **128.0 million**
- Income taxes paid = **165.9 million**

So:

**FFO = 1,202.0 − 128.0 − 165.9 = 908.1 million EUR**

Next, estimate net debt at year-end 2022:

**Net debt = financial debt + lease liabilities − cash and cash equivalents − current financial assets**

Using 2023-01-01 balance sheet values:
- 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**
- Cash and cash equivalents = **1,942.4 million**
- Current financial assets = **77.7 million**

So:

**Net debt = 5,689.9 + 650.1 + 55.1 + 21.3 − 1,942.4 − 77.7 = 4,396.3 million EUR**

Therefore:

**FFO / Net debt = 908.1 / 4,396.3 = 0.2066**, or about **20.7%**.

<answer>0.207</answer>