Revenue
55.0% of Montenegro's revenue
12,148 companies earned 9.71b€ in 2025, 55.0% of all company revenue in Montenegro. It ranks 1 of 25 municipalities by revenue. Revenue has grown 2.7× since 2015.
55.0% of Montenegro's revenue
67.7 per 1,000 residents · Montenegro 57.3
Largest employer: Idea - CG (2,426)
Total profit: 748.64m€
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 3,587,068,765€ | 5,044 |
| 2016 | 4,096,949,470€ | 5,487 |
| 2017 | 4,709,755,484€ | 6,109 |
| 2018 | 5,118,600,583€ | 6,927 |
| 2019 | 5,323,922,814€ | 7,518 |
| 2020 | 4,709,522,069€ | 8,027 |
| 2021 | 5,608,587,707€ | 8,567 |
| 2022 | 6,799,397,294€ | 9,638 |
| 2023 | 8,203,771,212€ | 11,057 |
| 2024 | 8,801,908,063€ | 11,952 |
| 2025 (Preliminary) | 9,708,565,989€ | 12,148 |
Companies are assigned to the municipality of their current seat for every year
Growth is measured on the same companies, which filed for both years.
Share of municipal revenue
Share in MontenegroRevenue change vs 2024, companies with at least 1m€ that year
Employees and payroll cost per employee per month*
Ranked by total revenue · Showing 1–50 of 118
* 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 →
| Employees |
|---|
| Payroll cost/emp./mo* |
|---|
| 1 | Crnogorski Elektrodistributivni Sistem03099873 · Energy, water & waste | 1.5% | 143,491,220€ | +8.7% | 2,473,524€ | 1.7% | 1,751 | 1,852€ |
| 2 | Crnogorski Elektroprenosni Sistem02751372 · Energy, water & waste | 1.0% | 96,027,011€ | -4.7% | 20,989,630€ | 21.9% | 353 | 2,288€ |
| 3 | Green Energy System03479226 · Energy, water & waste | 0.2% | 19,085,568€ | +1,544.7% | 68,124€ | 0.4% | 1 | 2,348€ |
| 4 | Terna Crna Gora02845237 · Energy, water & waste | 0.2% | 19,083,650€ | +4.0% | 8,396,630€ | 44.0% | 13 | 3,658€ |
| 5 | Vodovod i Kanalizacija02015641 · Energy, water & waste | 0.2% | 17,204,122€ | +30.9% | 917,493€ | 5.3% | 546 | 1,115€ |
| 6 | Mozura Wind Park02724391 · Energy, water & waste | 0.1% | 12,026,005€ | +5.4% | 1,404,856€ | 11.7% | 3 | 2,233€ |
| 7 | Čistoća02407493 · Energy, water & waste | 0.1% | 10,405,774€ | +19.2% | -1,692,914€ | -16.3% | 645 | 1,143€ |
| 8 | Deponija02653907 · Energy, water & waste | <0.1% | 9,582,152€ | +21.0% | 1,946,946€ | 20.3% | 210 | 1,400€ |
| 9 | Kronor02737752 · Energy, water & waste | <0.1% | 2,620,985€ | +28.8% | 949,857€ | 36.2% | 20 | 1,386€ |
| 10 | Simes Inženjering02319977 · Energy, water & waste | <0.1% | 2,585,748€ | -48.6% | 228,370€ | 8.8% | 37 | 875€ |
| 11 | Ve-Ro Recycling03022404 · Energy, water & waste | <0.1% | 2,141,911€ | -18.7% | 627€ | 0.0% | 1 | 1,530€ |
| 12 | Marex Technology03586324 · Energy, water & waste | <0.1% | 1,603,637€ | +12.8% | 122,300€ | 7.6% | 1 | 9,081€ |
| 13 | Hydro Bistrica02998513 · Energy, water & waste | <0.1% | 1,429,182€ | +43.2% | 607,662€ | 42.5% | 10 | 974€ |
| 14 | Mhe Vrbnica03004856 · Energy, water & waste | <0.1% | 1,350,173€ | +4.4% | 76,525€ | 5.7% | 3 | 1,847€ |
| 15 | Ekomedika02777762 · Energy, water & waste | <0.1% | 930,204€ | -3.8% | 37,615€ | 4.0% | 16 | 2,094€ |
| 16 | Energogas02364735 · Energy, water & waste | <0.1% | 918,511€ | -43.7% | -303,654€ | -33.1% | 32 | 1,052€ |
| 17 | Nu Energy and Investment03365379 · Energy, water & waste | <0.1% | 893,425€ | +8,121,945.5% | -418,949€ | -46.9% | 6 | 3,399€ |
| 18 | Berza Električne Energije03150313 · Energy, water & waste | <0.1% | 871,324€ | -17.3% | 159,627€ | 18.3% | 7 | 2,994€ |
| 19 | Čevo Solar03454983 · Energy, water & waste | <0.1% | 794,595€ | +30.6% | 171,816€ | 21.6% | 7 | 1,683€ |
| 20 | Vigrad Montenegro Co02976650 · Energy, water & waste | <0.1% | 711,877€ | -32.0% | 130,374€ | 18.3% | 8 | 1,287€ |
| 21 | Vjetro Park Bijela03476634 · Energy, water & waste | <0.1% | 680,637€ | +3,545.4% | -1,291,317€ | -189.7% | 1 | 313€ |
| 22 | Energo Finanzza03565858 · Energy, water & waste | <0.1% | 625,410€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 64,063€ | 10.2% | 2 | 2,269€ |
| 23 | Đekić02081750 · Energy, water & waste | <0.1% | 576,993€ | +30.4% | 151,505€ | 26.3% | 3 | 819€ |
| 24 | Invicta02763273 · Energy, water & waste | <0.1% | 394,114€ | +59.9% | -155,042€ | -39.3% | 3 | 1,392€ |
| 25 | MK Energy03433994 · Energy, water & waste | <0.1% | 368,634€ | +111,946.8% | -170,939€ | -46.4% | 1 | 6,284€ |
| 26 | Otkup Katalizatora Mile03312046 · Energy, water & waste | <0.1% | 355,160€ | +135.4% | 21,384€ | 6.0% | 2 | 678€ |
| 27 | Synergy02836670 · Energy, water & waste | <0.1% | 347,496€ | +24.4% | 36,340€ | 10.5% | 4 | 1,191€ |
| 28 | BB Hidro02978636 · Energy, water & waste | <0.1% | 333,742€ | +22.5% | 127,777€ | 38.3% | 3 | 941€ |
| 29 | Eco Green Renewable Energy03621952 · Energy, water & waste | <0.1% | 272,863€ | +490.6% | 70,450€ | 25.8% | 3 | 2,144€ |
| 30 | Metro Energo03167283 · Energy, water & waste | <0.1% | 252,392€ | +13.5% | 127,765€ | 50.6% | 1 | 626€ |
| 31 | Ecomarine03474097 · Energy, water & waste | <0.1% | 210,827€ | +67.8% | 41,083€ | 19.5% | 1 | 8,857€ |
| 32 | Green Balancing Group02861330 · Energy, water & waste | <0.1% | 84,512€ | +329.0% | -36,248€ | -42.9% | 1 | 787€ |
| 33 | Kolay Energy MN03618501 · Energy, water & waste | <0.1% | 80,000€ | +5,233.3% | -12,755€ | -15.9% | 1 | 2,105€ |
| 34 | Inter Trade Co03340520 · Energy, water & waste | <0.1% | 61,241€ | -90.7% | 38,843€ | 63.4% | 1 | 677€ |
| 35 | Ekopack Recycling03751945 · Energy, water & waste | <0.1% | 48,936€ | No filing for 2024. | 14,487€ | 29.6% | 0 | — |
| 36 | TZ Energy03449777 · Energy, water & waste | <0.1% | 45,403€ | +349.0% | -133,924€ | -295.0% | 1 | 2,603€ |
| 37 | Obnovljivi Izvori Energije03384861 · Energy, water & waste | <0.1% | 28,294€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -103,521€ | -365.9% | 1 | 1,521€ |
| 38 | Recomont02932776 · Energy, water & waste | <0.1% | 21,100€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -24,633€ | -116.7% | 1 | 2,523€ |
| 39 | Hidroterm02407736 · Energy, water & waste | <0.1% | 12,885€ | -38.3% | -17,825€ | -138.3% | 2 | 500€ |
| 40 | BP Energy03521362 · Energy, water & waste | <0.1% | 12,400€ | +1,239,900.0% | -77,674€ | -626.4% | 1 | 603€ |
| 41 | Župa Solar03474283 · Energy, water & waste | <0.1% | 11,536€ | +3,104.4% | -276,687€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 8,659€ |
| 42 | Monte Solea03467058 · Energy, water & waste | <0.1% | 11,501€ | +15.0% | 3,146€ | 27.4% | 1 | 513€ |
| 43 | Ice Pro03735362 · Energy, water & waste | <0.1% | 10,415€ | No filing for 2024. | 358€ | 3.4% | 1 | 438€ |
| 44 | Razvršje Energetics03404013 · Energy, water & waste | <0.1% | 9,140€ | -61.4% | -8,139€ | -89.0% | 1 | 478€ |
| 45 | Liberty Group03587568 · Energy, water & waste | <0.1% | 7,285€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -12,599€ | -172.9% | 2 | 754€ |
| 46 | Vode Montenegro02675072 · Energy, water & waste | <0.1% | 6,360€ | 0.0% | -958€ | -15.1% | 1 | 508€ |
| 47 | Innovative Green Industries03235599 · Energy, water & waste | <0.1% | 5,071€ | +46,000.0% | -66,074€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 2 | — |
| 48 | Kjub03735281 · Energy, water & waste | <0.1% | 2,280€ | No filing for 2024. | -9,161€ | -401.8% | 1 | — |
| 49 | Wem Montenegro03172244 · Energy, water & waste | <0.1% | 1,905€ | -53.0% | 585€ | 30.7% | 1 | — |
| 50 | Dekar Energy02868679 · Energy, water & waste | <0.1% | 1,132€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -12,562€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 343€ |