diff --git a/components/fpspreadsheet/source/common/fpsopendocument.pas b/components/fpspreadsheet/source/common/fpsopendocument.pas
index 13c35c231..59676d3ac 100644
--- a/components/fpspreadsheet/source/common/fpsopendocument.pas
+++ b/components/fpspreadsheet/source/common/fpsopendocument.pas
@@ -2354,30 +2354,33 @@ begin
       end;
       Delete(formula, 1, p);
     end;
-    // ... convert to Excel "A1" dialect used by fps by defailt
-    parser := TsSpreadsheetParser.Create(FWorksheet);
-    try
+    if not (boIgnoreFormulas in FWorkbook.Options) then
+    begin
+      // ... convert to Excel "A1" dialect used by fps by defailt
+      parser := TsSpreadsheetParser.Create(FWorksheet);
       try
-        parser.Dialect := fdOpenDocument;
-        parser.LocalizedExpression[FPointSeparatorSettings] := formula;
-        parser.Dialect := fdExcelA1;
-        formula := parser.Expression;
-      except
-        on E:EExprParser do
-        begin
-          Workbook.AddErrorMsg(E.Message);
-          formula := '';
-          if (boAbortReadOnFormulaError in Workbook.Options) then raise;
-        end;
-        on E:ECalcEngine do
-        begin
-          Workbook.AddErrorMsg(E.Message);
-          formula := '';
-          if (boAbortReadOnFormulaError in Workbook.Options) then raise;
+        try
+          parser.Dialect := fdOpenDocument;
+          parser.LocalizedExpression[FPointSeparatorSettings] := formula;
+          parser.Dialect := fdExcelA1;
+          formula := parser.Expression;
+        except
+          on E:EExprParser do
+          begin
+            Workbook.AddErrorMsg(E.Message);
+            formula := '';
+            if (boAbortReadOnFormulaError in Workbook.Options) then raise;
+          end;
+          on E:ECalcEngine do
+          begin
+            Workbook.AddErrorMsg(E.Message);
+            formula := '';
+            if (boAbortReadOnFormulaError in Workbook.Options) then raise;
+          end;
         end;
+      finally
+        parser.Free;
       end;
-    finally
-      parser.Free;
     end;
     // ... and store in cell's FormulaValue field.
     cell^.FormulaValue := formula;