**Reasoning**

1. **Total debt** – According to the S&P methodology, total debt includes short‑term borrowings, the current portion of long‑term borrowings, long‑term borrowings and lease liabilities (both current and non‑current).  
   - Short‑term borrowings: 4,446 M€  
   - Current portion of long‑term borrowings: 3,097 M€  
   - Long‑term borrowings: 19,374 M€  
   - Current lease liabilities: 884 M€  
   - Non‑current lease liabilities: 4,067 M€  

   **Total debt** = 4,446 + 3,097 + 19,374 + 884 + 4,067 = 31,868 M€  

2. **Cash & cash equivalents** – For net debt, S&P subtracts “cash and cash equivalents”. The balance‑sheet shows cash and cash equivalents of 10,155 M€ (2023‑01‑01). Short‑term investments are not treated as cash for this calculation, so only the cash balance is used.

   **Net debt** = Total debt – Cash = 31,868 M€ – 10,155 M€ = **21,713 M€**  

3. **EBITDA** – S&P defines EBITDA as operating profit plus depreciation, amortisation and other non‑cash items (impairment reversals are subtracted, write‑offs are added back).  
   - Operating profit (Profit loss from operating activities): 17,510 M€  
   - Depreciation & amortisation: 7,205 M€  
   - Write‑off of tangible and intangible assets: 599 M€  
   - Impairment reversal (positive): ‑1,140 M€  

   **EBITDA** = 17,510 + 7,205 + 599 ‑ 1,140 = 24,174 M€  

4. **Net Debt / EBITDA** = 21,713 M€ ÷ 24,174 M€ ≈ **0.90**  

Thus, the Net Debt/EBITDA ratio for 2022 using S&P methodology is approximately 0.90.

<answer>0.90</answer>