Revenue
4.5% of sector revenue
258 companies earned 92.80m€ in 2025, 4.5% of Construction sector revenue. Revenue has grown 3.8× since 2015.
4.5% of sector revenue
124 with at most one employee
Largest employer: Ening (151)
Median company 3.1% · 55% profitable
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
Revenue change vs 2024, companies with at least 1m€ that year
Ranked by total revenue · Showing 1–50 of 258
* 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 →
Totals include 3 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
The activity title is the code's title in the KD 2010 classification (NACE Rev. 2), which applies to every year shown. The registry now shows titles from the new classification for the same codes, so titles can differ.
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 24,196,262€ | 80 |
| 2016 | 29,191,157€ | 82 |
| 2017 | 37,453,885€ | 92 |
| 2018 | 45,604,902€ | 104 |
| 2019 | 54,398,724€ | 117 |
| 2020 | 45,252,871€ | 136 |
| 2021 | 42,931,934€ | 145 |
| 2022 | 55,537,800€ | 155 |
| 2023 | 70,477,350€ | 195 |
| 2024 | 76,461,648€ | 223 |
| 2025 (Preliminary) | 92,803,124€ | 258 |
The number of companies jumped most in 2023: from 155 to 195.
Employees and payroll cost per employee per month*
15.4% |
| 14,289,638€ |
| +1.8% |
| 640,587€ |
| 4.5% |
| 93 |
| 995€ |
| 3 | Termosistem02376733 · Podgorica | 12.3% | 11,414,722€ | +28.6% | 219,167€ | 1.9% | 99 | 1,694€ |
| 4 | Frigoelektro02100037 · Podgorica | 5.2% | 4,868,711€ | +6.0% | 693,073€ | 14.2% | 35 | 858€ |
| 5 | Termo Tim PG02837471 · Podgorica | 4.3% | 3,998,892€ | +180.3% | 802,443€ | 20.1% | 19 | 797€ |
| 6 | Aqua Engineering03207030 · Podgorica | 2.8% | 2,613,218€ | +67.6% | 375,858€ | 14.4% | 9 | 1,848€ |
| 7 | Plam Inženjering02135191 · Tuzi | 2.7% | 2,516,827€ | +3.1% | 407,931€ | 16.2% | 8 | 920€ |
| 8 | Vik02940990 · Podgorica | 2.1% | 1,994,034€ | +19.3% | 100,438€ | 5.0% | 4 | 3,060€ |
| 9 | Termoinženjering02077256 · Podgorica | 1.9% | 1,761,068€ | -43.0% | 42,629€ | 2.4% | 28 | 1,427€ |
| 10 | Frigo-Mont02425254 · Podgorica | 1.9% | 1,721,956€ | +56.9% | 238,523€ | 13.9% | 12 | 1,401€ |
| 11 | Pro Termo03333523 · Podgorica | 1.5% | 1,428,145€ | +14.3% | 249,957€ | 17.5% | 15 | 1,356€ |
| 12 | Hidro Lux03065294 · Podgorica | 1.3% | 1,227,446€ | +54.7% | 265,412€ | 21.6% | 14 | 1,062€ |
| 13 | A-Klima02987945 · Podgorica | 1.3% | 1,211,210€ | +80.3% | 213,127€ | 17.6% | 13 | 906€ |
| 14 | Thermia03311058 · Podgorica | 1.2% | 1,068,517€ | +29.6% | 305,555€ | 28.6% | 9 | 1,460€ |
| 15 | Standard Inženjering02701596 · Podgorica | 1.0% | 947,413€ | -1.8% | 133,612€ | 14.1% | 12 | 1,970€ |
| 16 | Energy Net Mne02993040 · Podgorica | 1.0% | 903,114€ | +103.5% | 180,340€ | 20.0% | 2 | 1,358€ |
| 17 | Raičević-Mont02693801 · Nikšić | 0.9% | 875,194€ | +59.8% | 132,872€ | 15.2% | 8 | 705€ |
| 18 | Heco System03036677 · Nikšić | 0.9% | 848,406€ | +62.4% | 197,693€ | 23.3% | 6 | 883€ |
| 19 | Toroagro02622211 · Danilovgrad | 0.9% | 806,980€ | -34.3% | 46,936€ | 5.8% | 16 | 840€ |
| 20 | Dom-Plus03673898 · Bijelo Polje | 0.8% | 698,981€ | +53.0% | 12,036€ | 1.7% | 1 | 2,719€ |
| 21 | Termomont03669572 · Podgorica | 0.7% | 639,580€ | +20,645.4% | 51,520€ | 8.1% | 1 | 451€ |
| 22 | Tehnoterm03111695 · Podgorica | 0.7% | 623,559€ | +64.4% | 39,987€ | 6.4% | 9 | 1,357€ |
| 23 | Terming-Danilovgrad03484327 · Danilovgrad | 0.7% | 610,641€ | +61.0% | 4,499€ | 0.7% | 5 | 794€ |
| 24 | Simax Mne03391736 · Budva | 0.6% | 593,810€ | -1.3% | 94,556€ | 15.9% | 4 | 4,036€ |
| 25 | Moto Frigo Vujović02632616 · Podgorica | 0.6% | 574,117€ | -1.8% | 159,935€ | 27.9% | 11 | 750€ |
| 26 | Svemir Plus03420426 · Podgorica | 0.6% | 565,968€ | +28.6% | 10,228€ | 1.8% | 3 | 1,237€ |
| 27 | Vodoinstalater Akvaplus03214869 · Danilovgrad | 0.6% | 558,959€ | +197.5% | 12,735€ | 2.3% | 4 | 587€ |
| 28 | Vodo - Mont02668815 · Podgorica | 0.6% | 543,545€ | +11.2% | 141,104€ | 26.0% | 13 | 842€ |
| 29 | Hidro-Invest03105555 · Podgorica | 0.6% | 528,521€ | +43.9% | 20,385€ | 3.9% | 12 | 1,387€ |
| 30 | Bemix02829517 · Herceg Novi | 0.5% | 482,466€ | -4.6% | 16,805€ | 3.5% | 11 | 1,511€ |
| 31 | Simović-R03478793 · Herceg Novi | 0.5% | 458,728€ | +361.9% | 137,894€ | 30.1% | 10 | 1,013€ |
| 32 | H2o Sistem03203018 · Podgorica | 0.5% | 452,809€ | +23.5% | -27,237€ | -6.0% | 1 | 5,434€ |
| 33 | Nautilus Pažići02815591 · Danilovgrad | 0.5% | 419,797€ | -10.6% | 23,862€ | 5.7% | 13 | 716€ |
| 34 | Hidrostandard D&M03603075 · Podgorica | 0.4% | 392,673€ | +1.3% | 247,826€ | 63.1% | 3 | 820€ |
| 35 | Tmušić Termotehnika03349217 · Podgorica | 0.4% | 370,466€ | +53.5% | 31,318€ | 8.5% | 5 | 1,155€ |
| 36 | Potrlica02109417 · Pljevlja | 0.4% | 353,398€ | +23.6% | 9,410€ | 2.7% | 8 | 1,138€ |
| 37 | Confidence03238512 · Budva | 0.4% | 350,531€ | -48.8% | 39,120€ | 11.2% | 5 | 2,372€ |
| 38 | Hidrovod03172970 · Podgorica | 0.4% | 332,146€ | +29.4% | 118,217€ | 35.6% | 5 | 1,514€ |
| 39 | NG Sistem03245489 · Nikšić | 0.4% | 331,983€ | +38.7% | 6,340€ | 1.9% | 7 | 966€ |
| 40 | Vodamont Vraneš03127397 · Tivat | 0.3% | 313,536€ | +78.9% | 6,023€ | 1.9% | 3 | 1,271€ |
| 41 | NS Elektronix02622548 · Bar | 0.3% | 282,719€ | +8.3% | 9,754€ | 3.5% | 4 | 731€ |
| 42 | Hidroteh03656080 · Pljevlja | 0.3% | 263,430€ | +264.8% | 23,459€ | 8.9% | 6 | 828€ |
| 43 | Aqva - Term02754690 · Podgorica | 0.3% | 260,642€ | +0.4% | 21,674€ | 8.3% | 6 | 1,791€ |
| 44 | Home Energy03279758 · Podgorica | 0.3% | 235,550€ | +73.1% | 11,100€ | 4.7% | 3 | 800€ |
| 45 | LD Water03315355 · Podgorica | 0.2% | 220,578€ | +16.8% | 6,372€ | 2.9% | 5 | 680€ |
| 46 | Kešić Sistem03525961 · Nikšić | 0.2% | 209,532€ | +71.6% | 71,035€ | 33.9% | 6 | 809€ |
| 47 | Tehniko System03045030 · Budva | 0.2% | 208,638€ | -19.6% | -22,498€ | -10.8% | 3 | 958€ |
| 48 | Kalina Company03540570 · Nikšić | 0.2% | 186,700€ | +557.1% | -74,358€ | -39.8% | 5 | 1,314€ |
| 49 | Sagram03659135 · Nikšić | 0.2% | 185,540€ | +105.2% | 26,683€ | 14.4% | 1 | 3,213€ |
| 50 | Konstrukt Mne03631150 · Podgorica | 0.2% | 185,517€ | +43.7% | 20,291€ | 10.9% | 3 | 1,786€ |