When using PHP v7 and adding PHPExcel v1.8.0 to the Libraries folder, I was getting Error 500 when trying to load Drupal status report page. Examining Apache log files I found out that there is an error

PHP Fatal error: 'break' not in the 'loop' or 'switch' context in sites/all/libraries/PHPExcel/Classes/PHPExcel/Calculation/Functions.php on line 574

The offending line is actually 581 where there is a break statement after return statement that in PHP v7 throws an error. Removing this break statement, status report page started loading normally and saving XLS and XLSX now works without error.

Hope it helps someone.

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miksha created an issue.