Answer: 1.4

**Step 1: Calculate Operating Cash Flow Before Interest and Taxes** Since interest is classified as financing cash flows, we need to add back cash paid for interest to net operating cash flows: OCF before interest and taxes = Net operating cash flows + Cash paid for interest = €97 + €26 = €123 million **Step 2: Calculate the Ratio** Ratio = OCF before interest and taxes / EBIT = €123 / €80 = 1.5375 ≈ 1.4 **Explanation:** The ratio of 1.4 indicates that for every €1 of EBIT, the company generates approximately €1.4 in operating cash flow before interest and taxes. This suggests good cash flow generation relative to operating earnings. Since interest is classified as financing, it's not included in operating cash flows, so we need to add it back to get the true operating cash flow before financing costs.

Author: LeetQuiz Editorial Team