To estimate **FFO / Net debt** for 2022 under a simplified S&P-style approach:

1. **Funds from operations (FFO)**  
   S&P FFO is typically approximated from operating cash flow before working-capital movements, adjusted for interest and tax treatment. A practical approximation from the provided cash-flow reconciliation is the 2022 **Subtotal**, which represents profit before tax adjusted for non-cash/non-operating items before working-capital changes.

   - 2022 subtotal = **€2,516.130 million**

   So, estimated FFO ≈ **€2,516.130 million**.

2. **Net debt**  
   A simplified net debt estimate uses financial liabilities less cash and cash equivalents at year-end.

   2022 year-end values, i.e. 2023-01-01:
   - Noncurrent financial liabilities = **€2,844.559 million**
   - Current financial liabilities = **€1,109.297 million**
   - Cash and cash equivalents = **€409.252 million**

   Gross financial debt:
   - €2,844.559m + €1,109.297m = **€3,953.856 million**

   Net debt:
   - €3,953.856m − €409.252m = **€3,544.604 million**

3. **FFO / Net debt**
   - €2,516.130m / €3,544.604m = **0.7098**
   - As a percentage: **70.98%**

<answer>70.98</answer>