Revenue
8.5% of sector revenue
25 companies earned 79.69m€ in 2025, 8.5% of Energy, water & waste sector revenue. Revenue has grown 1.5× since 2015.
8.5% of sector revenue
3 with at most one employee
Largest employer: Vodovod i Kanalizacija (546)
Median company 0.6% · 60% 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 1–25 of 25
* 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 →
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 | 52,799,106€ | 25 |
| 2016 | 54,746,079€ | 24 |
| 2017 | 60,867,779€ | 25 |
| 2018 | 60,349,549€ | 25 |
| 2019 | 59,607,813€ | 23 |
| 2020 | 60,611,475€ | 24 |
| 2021 | 62,181,737€ | 25 |
| 2022 | 64,392,346€ | 26 |
| 2023 | 64,419,284€ | 27 |
| 2024 | 71,585,650€ | 26 |
| 2025 (Preliminary) | 79,691,445€ | 25 |
Employees and payroll cost per employee per month*
12.0% |
| 9,581,872€ |
| +6.1% |
| 1,512,676€ |
| 15.8% |
| 80 |
| 2,149€ |
| 3 | Vodovod i Kanalizacija02005573 · Budva | 8.8% | 7,016,701€ | -14.4% | -2,104,205€ | -30.0% | 249 | 1,473€ |
| 4 | Vodovod i Kanalizacija02054779 · Bar | 8.3% | 6,605,759€ | +6.3% | 10,714€ | 0.2% | 175 | 1,147€ |
| 5 | Vodovod i Kanalizacija02293196 · Herceg Novi | 7.5% | 6,011,734€ | -2.5% | -317,559€ | -5.3% | 171 | 1,514€ |
| 6 | Vodovod i Kanalizacija02033143 · Nikšić | 6.1% | 4,859,607€ | +0.2% | -249,631€ | -5.1% | 189 | 1,230€ |
| 7 | Vodovod i Kanalizacija Kotor02013312 · Kotor | 5.5% | 4,371,067€ | +11.9% | 366,945€ | 8.4% | 102 | 1,237€ |
| 8 | Vodovod i Kanalizacija02295407 · Tivat | 4.6% | 3,701,379€ | +14.7% | 38,813€ | 1.0% | 61 | 1,628€ |
| 9 | Vodovod i Kanalizacija02877449 · Ulcinj | 4.4% | 3,533,066€ | +35.7% | -166,777€ | -4.7% | 115 | 1,204€ |
| 10 | Vodovod02343762 · Pljevlja | 4.0% | 3,188,842€ | +30.2% | 775,629€ | 24.3% | 115 | 1,183€ |
| 11 | Vodovod i Kanalizacija-Cetinje02029928 · Cetinje | 3.0% | 2,383,011€ | +8.9% | -236,210€ | -9.9% | 63 | 1,347€ |
| 12 | Bistrica02004011 · Bijelo Polje | 2.6% | 2,058,340€ | +27.9% | 4,843€ | 0.2% | 71 | 1,541€ |
| 13 | Vodovod i Kanalizacija02877864 · Danilovgrad | 2.5% | 1,980,341€ | +29.7% | 210,429€ | 10.6% | 65 | 1,342€ |
| 14 | Komunalno i Vodovod02048221 · Žabljak | 2.4% | 1,894,339€ | +17.2% | 202,793€ | 10.7% | 42 | 1,583€ |
| 15 | Vodovod i Kanalizacija02361833 · Berane | 1.7% | 1,317,122€ | +46.5% | 62,071€ | 4.7% | 62 | 1,068€ |
| 16 | Vodovod i Kanalizacija Tuzi03399702 · Tuzi | 1.3% | 1,004,416€ | +40.0% | 110,992€ | 11.1% | 48 | 1,019€ |
| 17 | Komunalne Djelatnosti02028468 · Plav | 1.2% | 922,972€ | -4.2% | 39,140€ | 4.2% | 53 | 972€ |
| 18 | Vodovod i Kanalizacija02776146 · Rožaje | 1.0% | 773,032€ | +13.8% | 4,671€ | 0.6% | 42 | 1,149€ |
| 19 | Vodovod i Kanalizacija02788748 · Kolašin | 0.7% | 571,748€ | +20.9% | 43,122€ | 7.5% | 28 | 1,086€ |
| 20 | Vodovod i Kanalizacija03017940 · Andrijevica | 0.7% | 564,824€ | -5.6% | -32,383€ | -5.7% | 36 | 911€ |
| 21 | Gorska02437287 · Kolašin | <0.1% | 67,321€ | +707.8% | -58,730€ | -87.2% | 2 | 2,457€ |
| 22 | Ekovodalife03509834 · Budva | <0.1% | 57,957€ | +23.5% | 14,781€ | 25.5% | 1 | 930€ |
| 23 | Hidro-Instruments02958970 · Herceg Novi | <0.1% | 15,510€ | +0.2% | -1,732€ | -11.2% | 1 | 810€ |
| 24 | Vode Montenegro02675072 · Podgorica | <0.1% | 6,360€ | 0.0% | -958€ | -15.1% | 1 | 508€ |
| 25 | LB Water Supply Company03339220 · Tivat | <0.1% | 3€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -89,224€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 2 | 566€ |