Exactly.
However, if Excel can interpret some form of markup in such files to import different sections into different sheets, then this might still work.
But then this would have to be asked for on an Excel forum, since it is Excel specific.
Though it could be easily tested by having Excel export to CSV and import into a new document. If the sheets are still separated, then the file should contain the necessary markup, if they are not, then Excel can't do that.
Cheers,
_
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