S&P-style **FFO / Net debt** can be approximated as:

**1. Estimate FFO**

A common approximation from the provided data is:

\[
\text{FFO} \approx \text{CFO} - \text{working capital inflow} + \text{interest paid} + \text{taxes paid}
\]

Using 2022 figures:

- Cash flows from operating activities = **€1,002m**
- Increase/decrease in working capital = **€83m**
- Interest paid = **€329m**
- Income taxes paid = **€82m**

\[
\text{FFO} \approx 1{,}002 - 83 + 329 + 82 = 1{,}330 \text{ m}
\]

So estimated FFO = **€1.33bn**.

**2. Estimate net debt**

Using reported borrowings and lease liabilities, less cash and equivalents:

Debt components at 2023-01-01:

- Noncurrent borrowings = **€10,776m**
- Current borrowings = **€877m**
- Noncurrent lease liabilities = **€120m**
- Current lease liabilities = **€64m**

\[
\text{Gross debt} = 10{,}776 + 877 + 120 + 64 = 11{,}837 \text{ m}
\]

Cash and equivalents:

- Cash and cash equivalents = **€5,130m**

\[
\text{Net debt} = 11{,}837 - 5{,}130 = 6{,}707 \text{ m}
\]

**3. FFO / Net debt**

\[
\frac{\text{FFO}}{\text{Net debt}} = \frac{1{,}330}{6{,}707} = 0.1983
\]

So the estimated **FFO / Net debt ratio** is approximately **19.8%**.

<answer>0.198</answer>