Revenue
622.11m€3.3× since 2015
3.5% of Montenegro's revenue
Herceg Novi
2,701 companies earned 622.11m€ in 2025, 3.5% of all company revenue in Montenegro. It ranks 6 of 25 municipalities by revenue. Revenue has grown 3.3× since 2015.
Municipality · 2025
Year
Overview
Companies
2,701+1,605 since 2015
87.6 per 1,000 residents · Montenegro 57.3
Employees
10,437+75% since 2015
Largest employer: Portonovi Hospitality Management Company (355)
Profit margin
2.4%3.7 pts below average
Total profit: 14.92m€
This municipality 2.4%Montenegro: 6.1%
Payroll cost/emp./mo*
1,145€8% below average
Average per employee, not per company
This municipality 1,145€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 186,748,143€ | 1,096 |
| 2016 | 238,411,668€ | 1,158 |
| 2017 | 256,635,932€ | 1,236 |
| 2018 | 330,861,351€ | 1,347 |
| 2019 | 472,263,023€ | 1,508 |
| 2020 | 281,384,588€ | 1,616 |
| 2021 | 298,013,020€ | 1,775 |
| 2022 | 478,145,632€ | 2,226 |
| 2023 | 519,343,062€ | 2,536 |
| 2024 | 586,186,307€ | 2,626 |
| 2025 (Preliminary) | 622,105,532€ | 2,701 |
The number of companies jumped most in 2022: from 1,775 to 2,226.
Companies are assigned to the municipality of their current seat for every year
What changed in 2025
Growth is measured on the same companies, which filed for both years.
- Revenue, same companies (2,462)
- 570.43m€ → 615.22m€
- Employees, same companies
- 9,350 → 10,084
- Payroll cost per employee, same companies
- 1,090€ → 1,171€
- Filed for 2025, not for 2024
- 239 companies · 6.88m€
- Filed for 2024, not for 2025
- 164 companies, 15.76m€ in 2024
Sectors and who is growing
Revenue by sector
Share of municipal revenue
Share in Montenegro- Hospitality 141.87m€Montenegro: 7.2%22.8%
- Trade 140.92m€Montenegro: 43.8%22.7%
- Manufacturing 76.34m€Montenegro: 8.2%12.3%
- Construction 60.54m€Montenegro: 11.9%9.7%
- Real estate 57.04m€Montenegro: 1.3%9.2%
- Professional services 43.81m€Montenegro: 4.3%7.0%
- Transport & logistics 34.22m€Montenegro: 5.4%5.5%
- Other sectors (11) 67.38m€10.8%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- North Star Mne3.15m€ → 8.44m€+167.9%
- Piles Construction Company3.65m€ → 9.49m€+160.2%
- Adriatic 425.98m€ → 11.57m€+93.4%
- Olympus-Finance Group1.28m€ → 2.32m€+81.3%
- Ndoj Company1.56m€ → 2.52m€+61.5%
Largest employers
Employees and payroll cost per employee per month*
- 3552,340€
- 2041,557€
- 1941,534€
- 1711,514€
- 1501,945€
Development signals and urban projects
- Date not published06 333 25 10010 7 SAVINA RESIDENCE DOO HERCEG NOVIUTU issued
All companies (2,701)
Ranked by total revenue · Showing 1651–1700 of 2,701
- 1651Oddinary Stories03412628 · Arts & entertainmentRevenue share<0.1%
- Revenue
- 5,865€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -5,874€
- Margin
- -100.2%
- Employees
- 1
- Payroll cost/emp./mo*
- 931€
- 1652Ljepota i Zdravlje03507513 · Personal servicesRevenue share<0.1%
- Revenue
- 5,860€
- Revenue change 2024→2025
- +174.5%
- Profit
- -2,988€
- Margin
- -51.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 680€
- 1653Breeze Solutions03710211 · TradeRevenue share<0.1%
- Revenue
- 5,840€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -3,697€
- Margin
- -63.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 1654Fjumanto03262197 · TradeRevenue share<0.1%
- Revenue
- 5,832€
- Revenue change 2024→2025
- -6.0%
- Profit
- -7,792€
- Margin
- -133.6%
- Employees
- 1
- Payroll cost/emp./mo*
- 675€
- 1655Homeclean.Me03381960 · Administrative servicesRevenue share<0.1%
- Revenue
- 5,828€
- Revenue change 2024→2025
- -32.0%
- Profit
- -6,901€
- Margin
- -118.4%
- Employees
- 1
- Payroll cost/emp./mo*
- 927€
- 1656Sabs Looks03136612 · Personal servicesRevenue share<0.1%
- Revenue
- 5,780€
- Revenue change 2024→2025
- +285.6%
- Profit
- -4,994€
- Margin
- -86.4%
- Employees
- 1
- Payroll cost/emp./mo*
- 680€
- 1657Vlanex02920956 · ManufacturingRevenue share<0.1%
- Revenue
- 5,750€
- Revenue change 2024→2025
- -82.2%
- Profit
- -10,961€
- Margin
- -190.6%
- Employees
- 1
- Payroll cost/emp./mo*
- 513€
- 1658Wilde Nuts Exchange03319466 · TradeRevenue share<0.1%
- Revenue
- 5,703€
- Revenue change 2024→2025
- -53.9%
- Profit
- 0€
- Margin
- 0.0%
- Employees
- 1
- Payroll cost/emp./mo*
- —
- 1659Global Maksmont02849895 · Professional servicesRevenue share<0.1%
- Revenue
- 5,700€
- Revenue change 2024→2025
- -1.7%
- Profit
- 1,349€
- Margin
- 23.7%
- Employees
- 1
- Payroll cost/emp./mo*
- 339€
- 1660Mitake Dojo03365867 · Professional servicesRevenue share<0.1%
- Revenue
- 5,675€
- Revenue change 2024→2025
- +29.9%
- Profit
- -6,825€
- Margin
- -120.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 680€
- 1661Srećan Put03599043 · Administrative servicesRevenue share<0.1%
- Revenue
- 5,662€
- Revenue change 2024→2025
- +1,267.6%
- Profit
- -25,495€
- Margin
- -450.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 811€
- 1662Balkanski03504956 · ConstructionRevenue share<0.1%
- Revenue
- 5,646€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -10,333€
- Margin
- -183.0%
- Employees
- 2
- Payroll cost/emp./mo*
- 661€
- 1663Vadimstroy03655482 · ConstructionRevenue share<0.1%
- Revenue
- 5,605€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -2,744€
- Margin
- -49.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 1664Avo Group03013146 · Administrative servicesRevenue share<0.1%
- Revenue
- 5,600€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -3,624€
- Margin
- -64.7%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 1665Kotta Mare03377369 · TradeRevenue share<0.1%
- Revenue
- 5,544€
- Revenue change 2024→2025
- -88.6%
- Profit
- -1,924€
- Margin
- -34.7%
- Employees
- 1
- Payroll cost/emp./mo*
- —
- 1666Barringtonia03729168 · Administrative servicesRevenue share<0.1%
- Revenue
- 5,500€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -6,888€
- Margin
- -125.2%
- Employees
- 1
- Payroll cost/emp./mo*
- 786€
- 1667Monte Baza03655377 · Real estateRevenue share<0.1%
- Revenue
- 5,500€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -25,169€
- Margin
- -457.6%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,539€
- 1668Bipkis03437175 · EducationRevenue share<0.1%
- Revenue
- 5,465€
- Revenue change 2024→2025
- +241.6%
- Profit
- -3,960€
- Margin
- -72.5%
- Employees
- 1
- Payroll cost/emp./mo*
- 680€
- 1669Bramasole03437566 · Professional servicesRevenue share<0.1%
- Revenue
- 5,420€
- Revenue change 2024→2025
- -31.2%
- Profit
- -4,092€
- Margin
- -75.5%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 1670Style For You02446464 · Personal servicesRevenue share<0.1%
- Revenue
- 5,416€
- Revenue change 2024→2025
- +1.0%
- Profit
- -11,473€
- Margin
- -211.8%
- Employees
- 2
- Payroll cost/emp./mo*
- 426€
- 1671Pigurnov03407543 · TechnologyRevenue share<0.1%
- Revenue
- 5,410€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -3,963€
- Margin
- -73.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 677€
- 1672Paradox Animation Studio03447243 · TradeRevenue share<0.1%
- Revenue
- 5,390€
- Revenue change 2024→2025
- +600.0%
- Profit
- -3,896€
- Margin
- -72.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 680€
- 1673Ž - Sistems02970791 · TechnologyRevenue share<0.1%
- Revenue
- 5,372€
- Revenue change 2024→2025
- -68.0%
- Profit
- -1,251€
- Margin
- -23.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 462€
- 1674Geomap02734753 · Professional servicesRevenue share<0.1%
- Revenue
- 5,365€
- Revenue change 2024→2025
- -34.6%
- Profit
- -10,384€
- Margin
- -193.6%
- Employees
- 2
- Payroll cost/emp./mo*
- 338€
- 1675A-Elektro03786170 · Professional servicesRevenue share<0.1%
- Revenue
- 5,350€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -259€
- Margin
- -4.8%
- Employees
- 1
- Payroll cost/emp./mo*
- 336€
- 1676Firs Company03742075 · TradeRevenue share<0.1%
- Revenue
- 5,350€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -983€
- Margin
- -18.4%
- Employees
- 1
- Payroll cost/emp./mo*
- 470€
- 1677Zupčanik02676354 · ConstructionRevenue share<0.1%
- Revenue
- 5,311€
- Revenue change 2024→2025
- -75.2%
- Profit
- -18,929€
- Margin
- -356.4%
- Employees
- 2
- Payroll cost/emp./mo*
- —
- 1678Meters Fabric03522555 · TradeRevenue share<0.1%
- Revenue
- 5,266€
- Revenue change 2024→2025
- +716.4%
- Profit
- -3,433€
- Margin
- -65.2%
- Employees
- 1
- Payroll cost/emp./mo*
- 677€
- 1679Shtern03447596 · Real estateRevenue share<0.1%
- Revenue
- 5,250€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -15,348€
- Margin
- -292.3%
- Employees
- 3
- Payroll cost/emp./mo*
- 567€
- 1680Geo M02772027 · Professional servicesRevenue share<0.1%
- Revenue
- 5,249€
- Revenue change 2024→2025
- +94.4%
- Profit
- -3,198€
- Margin
- -60.9%
- Employees
- 1
- Payroll cost/emp./mo*
- 583€
- 1681Ajax03287599 · TechnologyRevenue share<0.1%
- Revenue
- 5,234€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -4,107€
- Margin
- -78.5%
- Employees
- 1
- Payroll cost/emp./mo*
- 424€
- 1682Sikora-Uni03443744 · Administrative servicesRevenue share<0.1%
- Revenue
- 5,231€
- Revenue change 2024→2025
- +17.7%
- Profit
- -3,024€
- Margin
- -57.8%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 1683Potok Zhizni03689301 · EducationRevenue share<0.1%
- Revenue
- 5,150€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -8,235€
- Margin
- -159.9%
- Employees
- 2
- Payroll cost/emp./mo*
- 450€
- 1684Lizaveta S03228207 · Real estateRevenue share<0.1%
- Revenue
- 5,120€
- Revenue change 2024→2025
- +341.4%
- Profit
- -3,557€
- Margin
- -69.5%
- Employees
- 1
- Payroll cost/emp./mo*
- 680€
- 1685Mija02764636 · HospitalityRevenue share<0.1%
- Revenue
- 5,120€
- Revenue change 2024→2025
- +74.4%
- Profit
- -9,838€
- Margin
- -192.1%
- Employees
- 2
- Payroll cost/emp./mo*
- 503€
- 1686Publishing Project03381439 · EducationRevenue share<0.1%
- Revenue
- 5,120€
- Revenue change 2024→2025
- +532.1%
- Profit
- -3,557€
- Margin
- -69.5%
- Employees
- 1
- Payroll cost/emp./mo*
- 680€
- 1687Boka Parts03616967 · TradeRevenue share<0.1%
- Revenue
- 5,118€
- Revenue change 2024→2025
- -88.4%
- Profit
- -25,140€
- Margin
- -491.2%
- Employees
- 2
- Payroll cost/emp./mo*
- 582€
- 1688Travunija Auto Centar03775771 · TradeRevenue share<0.1%
- Revenue
- 5,110€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 87€
- Margin
- 1.7%
- Employees
- 1
- Payroll cost/emp./mo*
- 364€
- 1689Stolivoil03435342 · Real estateRevenue share<0.1%
- Revenue
- 5,101€
- Revenue change 2024→2025
- -48.5%
- Profit
- -7,016€
- Margin
- -137.5%
- Employees
- 1
- Payroll cost/emp./mo*
- 680€
- 1690Solntseva and Ko03501841 · TradeRevenue share<0.1%
- Revenue
- 5,050€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -6,131€
- Margin
- -121.4%
- Employees
- 1
- Payroll cost/emp./mo*
- 922€
- 1691Katerina Art and Desing03545296 · Arts & entertainmentRevenue share<0.1%
- Revenue
- 5,050€
- Revenue change 2024→2025
- +113.1%
- Profit
- -5,094€
- Margin
- -100.9%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 1692Novilife03023699 · HospitalityRevenue share<0.1%
- Revenue
- 5,026€
- Revenue change 2024→2025
- -34.6%
- Profit
- -22,379€
- Margin
- -445.3%
- Employees
- 2
- Payroll cost/emp./mo*
- 678€
- 1693DNR Vukajlović03609375 · ConstructionRevenue share<0.1%
- Revenue
- 5,000€
- Revenue change 2024→2025
- -69.1%
- Profit
- -10,184€
- Margin
- -203.7%
- Employees
- 1
- Payroll cost/emp./mo*
- 675€
- 1694Edukativni Centar Rajović03773213 · Administrative servicesRevenue share<0.1%
- Revenue
- 5,000€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 213€
- Margin
- 4.3%
- Employees
- 1
- Payroll cost/emp./mo*
- —
- 1695Mak Mne03619559 · ManufacturingRevenue share<0.1%
- Revenue
- 5,000€
- Revenue change 2024→2025
- +506.1%
- Profit
- -7,538€
- Margin
- -150.8%
- Employees
- 1
- Payroll cost/emp./mo*
- 636€
- 1696Natafoxmedia03377385 · Professional servicesRevenue share<0.1%
- Revenue
- 5,000€
- Revenue change 2024→2025
- +629.9%
- Profit
- -9,941€
- Margin
- -198.8%
- Employees
- 1
- Payroll cost/emp./mo*
- 927€
- 1697SGMB Company03464156 · HospitalityRevenue share<0.1%
- Revenue
- 4,899€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -5,598€
- Margin
- -114.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 1698Neonovljanin03298868 · TechnologyRevenue share<0.1%
- Revenue
- 4,875€
- Revenue change 2024→2025
- -36.6%
- Profit
- -4,132€
- Margin
- -84.8%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 1699Dimisof03793435 · HospitalityRevenue share<0.1%
- Revenue
- 4,867€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -678€
- Margin
- -13.9%
- Employees
- 2
- Payroll cost/emp./mo*
- —
- 1700Micelium03560872 · TradeRevenue share<0.1%
- Revenue
- 4,804€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -7,942€
- Margin
- -165.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 929€
* Avg payroll cost per employee per month = wages, wage compensation and other personnel expenses from the income statement (AOP 211: net wages, taxes and contributions on wages including the employer's, and other personnel expenses) / employees / 12. It is not an employee's gross or net salary; reporting errors can move it significantly, and values below 300€ a month are not shown. How we calculate →
Companies in Herceg Novi ranked by revenue 2025 →
Source: Tax Administration / CRPSCurrency: EUR