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Even excel uses all 20 (Xeon) cores, CPU usage is only 10% (calculations are slow)

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I have rented an dedicated (20 core Xeon) server in order to increase the speed up excel calculations (on my PC excel calculates with 8 procesors, CPU usage is on 100% and recalculation takes around 2 min). But, on 20 core Xeon, it takes 3-4 min to recalculate the same amount of data, with same Office version (2016 x64). Where can be the problem? Office 2016 (x64) shoul be compatible with Windows server 2016 (x64). I have tryed to increase Excel priority in Task manager, but without any visible results. Please, does somebody have any other suggestion?

Thank you.

Ivo


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