To estimate **Net Debt / EBITDA for 2022** using an S&P-style approach:

1. **Estimate reported EBITDA**
   - Operating profit 2022: **€641.338m**
   - Depreciation, amortisation and impairment 2022: **€479.186m**
   - EBITDA ≈ 641.338 + 479.186 = **€1,120.524m**

2. **Estimate debt**
   Use financial liabilities:
   - Short-term financial liabilities excluding other current financial liabilities: **€142.437m**
   - Other current financial liabilities: **€0.290m**
   - Long-term financial liabilities excluding other non-current financial liabilities: **€6,402.913m**
   - Other non-current financial liabilities: **€0.034m**

   Gross financial debt ≈ 142.437 + 0.290 + 6,402.913 + 0.034 = **€6,545.674m**

3. **Subtract readily available cash and liquid financial assets**
   - Cash and cash equivalents: **€451.946m**
   - Current financial assets excluding other current financial assets: **€5.770m**
   - Other current financial assets: **€17.455m**

   Cash/liquid financial assets ≈ 451.946 + 5.770 + 17.455 = **€475.171m**

4. **Net debt**
   - Net debt ≈ 6,545.674 − 475.171 = **€6,070.503m**

5. **Net Debt / EBITDA**
   - 6,070.503 / 1,120.524 ≈ **5.42x**

<answer>5.42</answer>