Let’s go step-by-step.

**Step 1 – Funds From Operations (FFO)**  
FFO is typically calculated as:  

**Profit from operating activities + Depreciation, amortisation and impairment – Current tax expense – Interest paid + Interest received** (a common proxy when detailed adjustments aren't specified).  

From the figures:

- Profit from operating activities (2022): €1,333,500,000  
- Depreciation, amortisation and impairment (2022): €725,700,000  
- Income tax expense (2022): €355,400,000  
- Finance costs (2022): €121,800,000  
- Finance income (2022): €22,700,000  

So:  
FFO = 1,333,500,000 + 725,700,000 − 355,400,000 − 121,800,000 + 22,700,000  
= 1,604,700,000 EUR  

**Step 2 – Net Debt**  
Net debt = Long-term borrowings + Short-term borrowings + Current portion of long-term borrowings − Cash and cash equivalents − Current financial assets (that are readily convertible).

2023-01-01 values:

- Long-term borrowings: €8,416,700,000  
- Short-term borrowings: €444,100,000  
- Current portion of long-term borrowings: €1,909,300,000  
- Cash and cash equivalents: €2,155,100,000  
- Current financial assets: €255,300,000  

Net debt = 8,416,700,000 + 444,100,000 + 1,909,300,000 − 2,155,100,000 − 255,300,000  
= 8,359,700,000 EUR  

**Step 3 – FFO / Net Debt**  
FFO / Net debt = 1,604,700,000 / 8,359,700,000  
≈ 0.19196  

<answer>0.192</answer>