Let’s go through the S&P methodology step by step.  

**Funds from Operations (FFO)** is:  
EBITDA – net financial expenses – current tax expense + dividends from associates – non-controlling interests’ share of FFO (if consolidated) +/- other small adjustments.

The key data for 2022:

- EBITDA: 1,505,000,000 EUR  
- Net financial interest: -90,000,000 EUR (finance income 35M – finance costs 125M)  
- Income tax expense (current portion): We need to estimate current tax from total tax expense.  
  - Total tax expense: 344M EUR  
  - Deferred tax change: Deferred tax assets decreased by 61M (from 424M to 363M), meaning deferred tax liability movement reduced tax expense.  
  - Current tax ≈ total tax + decrease in deferred tax asset = 344M + 61M = 405M EUR (approximation)  
- Dividends from associates: 2M EUR  
- Non-controlling interest in profit: -47M (loss attributable to minorities), so effectively an addition in FFO.

FFO estimate:  
1,505 – 90 – 405 + 2 + 47 = **1,059M EUR**.

**Net Debt** (S&P style):  
Debt – cash – certain liquid assets.  

- Other non-current financial liabilities: 5,867M  
- Other current financial liabilities: 1,022M  
- Total gross debt: 6,889M  
- Cash and equivalents: 2,584M  
- Net debt = 6,889 – 2,584 = **4,305M EUR**.

**FFO / Net Debt**:  
1,059 / 4,305 ≈ 0.246.

<answer>0.246</answer>