To estimate the **FFO / Net debt ratio for 2022 using an S&P-style approach**, we approximate:

**FFO = CFO before working capital movements**

From the cash flow data for 2022:

- Cash flows from operating activities = **€4,242m**
- Increase / decrease in working capital = **-€272m**

Since reported CFO includes the working capital outflow, we add it back to estimate FFO:

\[
\text{FFO} \approx 4{,}242 - (-272) = 4{,}514 \text{ million EUR}
\]

So estimated **FFO = €4.514bn**.

Next, estimate **net debt**.

Use financial liabilities less cash and cash equivalents:

Financial debt:
- Noncurrent financial liabilities = **€13,999m**
- Current financial liabilities = **€2,302m**

\[
\text{Gross debt} = 13{,}999 + 2{,}302 = 16{,}301 \text{ million EUR}
\]

Cash and cash equivalents:
- Cash and cash equivalents = **€3,985m**

\[
\text{Net debt} = 16{,}301 - 3{,}985 = 12{,}316 \text{ million EUR}
\]

Then:

\[
\text{FFO / Net debt} = \frac{4{,}514}{12{,}316} = 0.3665
\]

As a percentage:

\[
0.3665 \times 100 = 36.65\%
\]

Rounded, the estimated **FFO / Net debt ratio for 2022** is approximately **36.7%**.

<answer>36.7</answer>