**Reasoning**

1. **Funds From Operations (FFO)** – Under S&P’s methodology, FFO corresponds to operating cash flow before changes in working capital. From the data:
   - “Cash Flows From Used In Operations Before Changes In Working Capital” for 2022 = **1,062,464,000 EUR**.

2. **Net Debt** – Net debt is total interest‑bearing debt minus cash and cash equivalents.
   - Total debt = “Other Noncurrent Financial Liabilities” (4,722,263,000 EUR) + “Other Current Financial Liabilities” (619,418,000 EUR) = **5,341,681,000 EUR**.
   - Cash & cash equivalents = “DisponibilitàLiquide EMezzi Equivalenti Alla Fine Dellesercizio Continued Operations” (559,908,000 EUR).
   - Net debt = 5,341,681,000 – 559,908,000 = **4,781,773,000 EUR**.

3. **FFO / Net Debt ratio** = 1,062,464,000 / 4,781,773,000 ≈ **0.2222**.

<answer>0.2222</answer>