Nexans reported a €30m drop in operating profit in the first half of 2020.
The cable manufacturer posted operating profits of €162m in the first six months of the year, compared to €192m in the same period of 2019.
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This represents a fall in EBITDA margins from 6% in the first half of 2019 to 5.6% in 2020.
The Paris-based company, however, reported that progress was made in transforming the Charleston plant into high-voltage subsea cable manufacturing facility.
This is to provide up to 1000 km of subsea high voltage export cables for Orsted offshore wind farms in North America up to 2027.
It said the Charleston investment is yet another important milestone in Nexans commitment to energy transition.