Let's reason through the calculation of the **Net Debt / EBITDA ratio for 2022** according to S&P methodology, using the provided Bouygues data.

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**1. Net Debt**

From the data:
- Net Debt at 2023-01-01 (end of 2022): **€7,440 million**

S&P typically uses reported net debt directly unless adjustments are needed. Here, we can proceed with this figure.

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**2. EBITDA Calculation (S&P-style)**

S&P often starts from "Profit (Loss) from Operating Activities", then adds:
- Depreciation & Amortization
- Impairment losses / reversals and provisions (if included in operating profit)
- Adjustments for operating lease depreciation (right-of-use assets) if needed, but usually depreciation already includes it if calculated from operating profit; we'll check.

From the data for 2022:

- **Profit (Loss) from Operating Activities**: €1,872 million  
- **Depreciation and Amortisation Expense**: €2,228 million  
- **Impairment / Provision expense**: €172 million (already reflected in operating profit)

Also, S&P typically includes **depreciation of right-of-use assets** within EBITDA (since lease liabilities are included in debt). But here, the D&A line likely already contains this, as "Depreciation Right-of-use Assets" is given separately as €446 million—this is a subset.

Thus, we can compute:

**EBITDA** = Operating Profit + Depreciation & Amortization + Impairment/Provision expense  
= €1,872M + €2,228M + €172M  
= **€4,272 million**

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**3. Ratio**

\[
\text{Net Debt / EBITDA} = \frac{7,440}{4,272} \approx 1.7416
\]

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**4. Final Answer**

<answer>1.74</answer>