I need to estimate the FFO (Funds From Operations) / Net Debt ratio for 2022.

**Step 1: Estimate FFO**

FFO is typically calculated as net income + depreciation & amortization + impairment losses + other non-cash items, or alternatively as operating cash flow before working capital changes minus net interest paid minus taxes paid.

Let me use the approach: FFO = Net income + D&A + Impairment + Non-cash items

From the cash flow statement, I can derive FFO more directly:

Net Cash Flow from Operations before net financial expenses and income taxes = -5,140M EUR (for 2022-01-01 to 2023-01-01, i.e., fiscal year 2022)

But this includes working capital changes of -8,301M EUR.

So before working capital: -5,140 - (-8,301) = 3,161M EUR... Wait, the working capital decrease is already included.

Actually: Net Cash Flow from Operations before WC changes = Net Cash Flow from Ops before financial expenses and taxes - WC changes
So: -5,140 + 8,301 = 3,161M? No.

The formula is: Operating profit adjustments + WC changes = -5,140M
So Operating profit adjustments (before WC) = -5,140 - (-8,301) = 3,161M

FFO is typically: Cash from operations before working capital changes, minus net interest paid, minus taxes paid.

FFO = 3,161 - 1,003 (net financial expenses disbursed) - 1,282 (income taxes paid) = 876M EUR

Wait, let me reconsider. The signs: "Net Financial Expenses Disbursed Including Dividends Received" = 1,003M (this is an outflow/expense). "Income Taxes Paid Refund" = 1,282M.

But looking at the cash flow: Operating CF = -7,425M, and this equals:
-5,140 (before financial expenses and taxes) - 1,003 (net financial expenses) - 1,282 (taxes) = -7,425. ✓

So FFO = Operating CF before WC changes and before financial expenses/taxes - net financial expenses - taxes
= (-5,140 + 8,301) - 1,003 - 1,282 = 3,161 - 1,003 - 1,282 = 876M EUR

**Step 2: Estimate Net Debt**

Net Debt = Financial Liabilities (borrowings) - Cash and Cash Equivalents - Liquid Financial Assets

From the balance sheet at 2023-01-01 (end of 2022):
- Other Noncurrent Financial Liabilities = 71,058M
- Other Current Financial Liabilities = 71,844M
- Cash and Cash Equivalents = 10,948M
- Other Current Financial Assets = 58,033M
- Other Noncurrent Financial Assets = 48,512M

Net debt for a utility like EDF is typically: Gross financial debt - cash - liquid investments (dedicated assets).

However, EDF's financial assets include dedicated assets for nuclear provisions and other items that aren't purely liquid. A simpler approach:

Net Debt = Noncurrent financial liabilities + Current financial liabilities - Cash
= 71,058 + 71,844 - 10,948 = 131,954M

But this seems very high. EDF typically reports net financial debt around 64.5B EUR for 2022. The current/noncurrent financial liabilities likely include derivative instruments and margin calls.

Let me use a more standard estimate. EDF's reported net financial debt was approximately 64.5B EUR at end of 2022.

Using total financial liabilities minus financial assets minus cash:
= (71,058 + 71,844) - (48,512 + 58,033) - 10,948 = 142,902 - 106,545 - 10,948 = 25,409M

That seems too low. Let me try: Noncurrent financial liabilities + Current financial liabilities - Cash - Current financial assets:
= 71,058 + 71,844 - 10,948 - 58,033 = 73,921M

This is closer to EDF's reported ~64.5B. Let me use approximately 64,500M as a reasonable estimate for net financial debt.

**FFO / Net Debt = 876 / 64,500 ≈ 0.0136**

But if I use my calculated net debt of 73,921M:
FFO / Net Debt = 876 / 73,921 ≈ 0.0118

Given the uncertainty, I'll use approximately 876/64,500 ≈ 0.014

<answer>0.014</answer>