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 12,148
* 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 | Voli Trade02227312 · Trade | 4.0% | 390,143,159€ | +5.8% | 16,066,500€ | 4.1% | 2,406 | 1,143€ |
| 2 | Hard Discount Laković02739500 · Trade | 3.0% | 294,229,601€ | +13.1% | 12,537,202€ | 4.3% | 1,724 | 961€ |
| 3 | Idea - CG02793962 · Trade | 2.8% | 275,741,990€ | -3.9% | 1,373,027€ | 0.5% | 2,426 | 1,094€ |
| 4 | Jugopetrol02013258 · Trade | 2.6% | 251,470,488€ | -2.2% | 9,370,773€ | 3.7% | 107 | 2,937€ |
| 5 | Mtel02655284 · Technology | 1.9% | 183,440,058€ | +76.8% | 76,703,936€ | 41.8% | 559 | 2,217€ |
| 6 | Montefarm02017105 · Trade | 1.9% | 181,800,827€ | +8.8% | 353,449€ | 0.2% | 561 | 1,380€ |
| 7 | Domaća Trgovina02440261 · Trade | 1.7% | 161,367,790€ | +16.2% | 4,103,964€ | 2.5% | 1,440 | 1,139€ |
| 8 | Glosarij02118912 · Trade | 1.6% | 159,843,713€ | +10.2% | 7,648,423€ | 4.8% | 183 | 1,986€ |
| 9 | Bar-Kod02289334 · Trade | 1.5% | 145,278,300€ | +14.0% | 4,326,327€ | 3.0% | 441 | 1,369€ |
| 10 | Crnogorski Elektrodistributivni Sistem03099873 · Energy, water & waste | 1.5% | 143,491,220€ | +8.7% | 2,473,524€ | 1.7% | 1,751 | 1,852€ |
| 11 | S Press +02983486 · Trade | 1.2% | 117,421,904€ | +17.5% | 843,075€ | 0.7% | 201 | 1,358€ |
| 12 | Ina - Crna Gora02305054 · Trade | 1.2% | 113,646,187€ | +18.2% | 1,003,995€ | 0.9% | 142 | 1,904€ |
| 13 | Plus03024938 · Trade | 1.1% | 104,939,098€ | +20.7% | 4,079,422€ | 3.9% | 34 | 2,765€ |
| 14 | Crnogorski Elektroprenosni Sistem02751372 · Energy, water & waste | 1.0% | 96,027,011€ | -4.7% | 20,989,630€ | 21.9% | 353 | 2,288€ |
| 15 | Bemax02643448 · Construction | 1.0% | 94,355,961€ | +13.5% | 2,927,476€ | 3.1% | 134 | 2,398€ |
| 16 | Crnogorski Telekom02289377 · Technology | 1.0% | 94,305,603€ | +2.9% | 7,704,422€ | 8.2% | 465 | 2,357€ |
| 17 | Okov02226782 · Trade | 0.9% | 87,842,560€ | +11.1% | 12,932,593€ | 14.7% | 559 | 1,278€ |
| 18 | Kips02047403 · Trade | 0.9% | 85,717,779€ | -4.5% | 6,933,247€ | 8.1% | 449 | 1,234€ |
| 19 | Vezuv02297060 · Arts & entertainment | 0.7% | 72,234,228€ | +13.6% | 28,173,079€ | 39.0% | 634 | 902€ |
| 20 | Nelt Mne02313707 · Trade | 0.7% | 70,256,885€ | +21.5% | 3,711,733€ | 5.3% | 391 | 1,534€ |
| 21 | One Crna Gora02242974 · Technology | 0.7% | 69,727,237€ | +2.7% | 12,482,809€ | 17.9% | 384 | 2,214€ |
| 22 | Tehno Max02404281 · Trade | 0.7% | 68,478,864€ | +12.8% | 4,561,050€ | 6.7% | 291 | 1,147€ |
| 23 | Stadion02077698 · Trade | 0.7% | 68,415,578€ | +3.0% | 1,552,303€ | 2.3% | 224 | 1,535€ |
| 24 | Tobacco S Press02983303 · Trade | 0.7% | 67,196,360€ | +0.5% | 324,483€ | 0.5% | 786 | 878€ |
| 25 | Farmegra02281864 · Trade | 0.7% | 66,253,183€ | +3.2% | 2,943,314€ | 4.4% | 90 | 1,645€ |
| 26 | Tomontenegro03344312 · Transport & logistics | 0.6% | 59,714,161€ | -4.9% | 1,381,029€ | 2.3% | 193 | 2,615€ |
| 27 | DMD Delta02329115 · Trade | 0.6% | 58,884,454€ | +7.1% | 2,450,066€ | 4.2% | 75 | 2,045€ |
| 28 | NLB Banka02011395 · Finance & insurance | 0.6% | 55,682,000€ | -0.7% | 26,267,000€ | 47.2% | — | — |
| 29 | Petrol Crna Gora Mne02675889 · Trade | 0.6% | 53,977,345€ | -8.5% | 1,635,483€ | 3.0% | 152 | 1,136€ |
| 30 | Coca-Cola Hellenic Bottling Company-Crna Gora02303213 · Trade | 0.5% | 52,952,440€ | +6.1% | 877,616€ | 1.7% | 24 | 2,769€ |
| 31 | MPM02047861 · Trade | 0.5% | 52,629,879€ | +11.5% | 2,207,919€ | 4.2% | 434 | 1,550€ |
| 32 | Zetagradnja02278383 · Construction | 0.5% | 52,341,807€ | +3.1% | 14,346,082€ | 27.4% | 82 | 1,785€ |
| 33 | Lukoil Montenegro02630419 · Trade | 0.5% | 46,406,987€ | -2.8% | 1,956,115€ | 4.2% | 109 | 1,361€ |
| 34 | Tabacco Shop02378299 · Trade | 0.5% | 45,959,755€ | +20.1% | 922,485€ | 2.0% | 542 | 819€ |
| 35 | Aerodromi Crne Gore02305623 · Transport & logistics | 0.5% | 44,663,471€ | No filing for 2024. | 12,933,560€ | 29.0% | 1,050 | 1,738€ |
| 36 | Hemomont02204185 · Manufacturing | 0.5% | 44,340,351€ | +12.2% | 974,179€ | 2.2% | 254 | 1,803€ |
| 37 | Erste Bank02351242 · Finance & insurance | 0.4% | 43,654,000€ | +5.8% | 18,552,000€ | 42.5% | — | — |
| 38 | Pearl Executive Aviation02848147 · Transport & logistics | 0.4% | 42,209,169€ | +25.4% | 1,685,960€ | 4.0% | 9 | 4,799€ |
| 39 | 13 Jul - Plantaže02016281 · Agriculture | 0.4% | 40,413,809€ | +13.2% | 3,986,754€ | 9.9% | 621 | 1,721€ |
| 40 | Sport Vision03187608 · Trade | 0.4% | 40,206,482€ | +13.4% | 5,753,083€ | 14.3% | 333 | 1,266€ |
| 41 | Vcag03237656 · Trade | 0.4% | 40,103,222€ | -3.5% | 3,676,072€ | 9.2% | 2 | 804€ |
| 42 | China Road & Bridge Corporation03016480 · Construction | 0.4% | 40,010,268€ | +864.2% | 35,533,951€ | 88.8% | 14 | 5,592€ |
| 43 | Inditex Montenegro02697904 · Trade | 0.4% | 39,935,102€ | +6.4% | 2,701,409€ | 6.8% | 184 | 884€ |
| 44 | Xenergy02766515 · Trade | 0.4% | 37,446,256€ | -28.6% | 3,447,492€ | 9.2% | 46 | 2,366€ |
| 45 | Master Inženjering02302586 · Construction | 0.4% | 36,043,674€ | No filing for 2024. | 4,365,138€ | 12.1% | 9 | 3,107€ |
| 46 | Kmag,kia Motors Adria Group02745747 · Trade | 0.4% | 35,334,771€ | -13.9% | 587,248€ | 1.7% | 2 | 767€ |
| 47 | Volvox Materials&Construction03689697 · Trade | 0.3% | 33,249,885€ | +431.4% | 1,658,677€ | 5.0% | 66 | 1,828€ |
| 48 | Mna Gaming02757192 · Arts & entertainment | 0.3% | 33,135,981€ | +15.5% | -3,150,888€ | -9.5% | 617 | 1,044€ |
| 49 | Rokšped Auto Centar02976820 · Trade | 0.3% | 32,849,241€ | +3.9% | 801,786€ | 2.4% | 51 | 2,166€ |
| 50 | Net Montenegro03076067 · Professional services | 0.3% | 32,697,603€ | -11.0% | 373,995€ | 1.1% | 605 | 1,312€ |