First, let's recall the S&P Global methodology for calculating the Net Debt / EBITDA ratio. - **EBITDA** = Operating Profit + Depreciation & Amortisation + Impairment Loss (if any) – Reversal of Impairment Loss. According to the data: - "Profit Loss From Operating Activities" (2022): 1,333,500,000 EUR - "Depreciation Amortisation And Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss" (2022): 725,700,000 EUR So EBITDA ≈ 1,333.5 M + 725.7 M = 2,059.2 M EUR. - **Net Debt** (S&P-style) usually includes: Short-term borrowings + Current portion of long-term borrowings + Long-term borrowings – Cash and cash equivalents – Current financial assets (if liquid) and sometimes adjustment for derivatives. Here: - "Shortterm Borrowings" (2023-01-01): 444,100,000 EUR - "Current Portion Of Longterm Borrowings" (2023-01-01): 1,909,300,000 EUR - "Longterm Borrowings" (2023-01-01): 8,416,700,000 EUR - "Cash And Cash Equivalents" (2023-01-01): 2,155,100,000 EUR - "Current Financial Assets" (2023-01-01): 255,300,000 EUR Net Debt ≈ (444.1 + 1,909.3 + 8,416.7) – (2,155.1 + 255.3) = 10,770.1 – 2,410.4 = 8,359.7 M EUR. - Ratio = **8,359.7 / 2,059.2 ≈ 4.06**. I’ll now put the final answer. 4.06