To estimate Net Debt / EBITDA under an S&P-style approach, I use consolidated debt-like obligations net of cash, and EBITDA approximated from operating profit before depreciation/amortisation.

**1. Estimate EBITDA for 2022**

From the 2022 income statement:

- Profit/loss from operating activities = **€423m**
- Amortisation expense = **€299m**

Approximate EBITDA:

\[
EBITDA = Operating\ Profit + D\&A
\]

\[
EBITDA = 423 + 299 = 722\text{ million EUR}
\]

**2. Estimate gross debt**

Debt-like items at 2022 year-end / 2023-01-01:

- Noncurrent debt securities and bank borrowings of infrastructure projects = **€7,893m**
- Noncurrent debt securities and bank borrowings excluding infrastructure projects = **€2,883m**
- Current debt securities and bank borrowings of infrastructure projects = **€74m**
- Current debt securities and bank borrowings excluding infrastructure projects = **€803m**
- Noncurrent lease liabilities = **€120m**
- Current lease liabilities = **€64m**

Gross debt:

\[
7{,}893 + 2{,}883 + 74 + 803 + 120 + 64 = 11{,}837\text{ million EUR}
\]

**3. Subtract cash and cash equivalents**

Cash and cash equivalents:

\[
5{,}130\text{ million EUR}
\]

Net debt:

\[
11{,}837 - 5{,}130 = 6{,}707\text{ million EUR}
\]

**4. Net Debt / EBITDA**

\[
\frac{6{,}707}{722} = 9.29
\]

Rounded:

\[
\approx 9.3x
\]

<answer>9.3</answer>