Revenue
1.43b€2.2× since 2015
8.1% of Montenegro's revenue
Manufacturing
2,600 companies earned 1.43b€ in 2025, 8.1% of all company revenue in Montenegro. It ranks 3 of 18 sectors by revenue. Revenue has grown 2.2× since 2015.
Nationwide · 2025
Year
Overview
Companies
2,600+1,265 since 2015
1,157 with at most one employee
Employees
15,588+75% since 2015
Largest employer: Meso-Promet (637)
Profit margin
5.8%0.3 pts below average
Total profit: 82.14m€
This sector 5.8%Montenegro: 6.1%
Payroll cost/emp./mo*
1,048€16% below average
Average per employee, not per company
This sector 1,048€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 652,001,526€ | 1,335 |
| 2016 | 664,144,843€ | 1,422 |
| 2017 | 765,142,727€ | 1,550 |
| 2018 | 794,303,168€ | 1,665 |
| 2019 | 830,768,060€ | 1,766 |
| 2020 | 777,390,153€ | 1,900 |
| 2021 | 917,603,355€ | 2,006 |
| 2022 | 1,196,086,350€ | 2,178 |
| 2023 | 1,235,336,335€ | 2,409 |
| 2024 | 1,365,897,940€ | 2,543 |
| 2025 (Preliminary) | 1,426,505,421€ | 2,600 |
What changed in 2025
Growth is measured on the same companies, which filed for both years.
- Revenue, same companies (2,342)
- 1.34b€ → 1.41b€
- Employees, same companies
- 14,160 → 15,013
- Payroll cost per employee, same companies
- 978€ → 1,065€
- Filed for 2025, not for 2024
- 258 companies · 12.11m€
- Filed for 2024, not for 2025
- 201 companies, 28.84m€ in 2024
Activities in this sector
- Companies
- 35
- Employees
- 616
- Revenue
- 137,292,753€
- Companies
- 20
- Employees
- 901
- Revenue
- 125,958,901€
- Companies
- 282
- Employees
- 2,272
- Revenue
- 95,712,178€
- Companies
- 35
- Employees
- 660
- Revenue
- 91,738,651€
5.3%
- Companies
- 210
- Employees
- 1,484
- Revenue
- 75,146,180€
- Companies
- 34
- Employees
- 314
- Revenue
- 72,765,304€
3.7%
- Companies
- 12
- Employees
- 330
- Revenue
- 52,422,689€
- Companies
- 3
- Employees
- 261
- Revenue
- 44,483,123€
- Companies
- 132
- Employees
- 664
- Revenue
- 43,617,383€
2.7%
- Companies
- 10
- Employees
- 210
- Revenue
- 38,837,702€
- Companies
- 88
- Employees
- 388
- Revenue
- 36,110,719€
2.5%
- Companies
- 148
- Employees
- 719
- Revenue
- 35,024,070€
2.4%
- Companies
- 2
- Employees
- 146
- Revenue
- 34,714,720€
- Companies
- 80
- Employees
- 281
- Revenue
- 33,049,554€
- Companies
- 108
- Employees
- 363
- Revenue
- 31,754,537€
145 more activities
477,876,957€ · 33.5%
Total
- Companies
- 2,600
- Employees
- 15,588
- Revenue
- 1,426,505,421€
Where they are and who is growing
Revenue by municipality
Share of the sector's revenue
- Podgorica 332.60m€23.3%
- Nikšić 309.82m€21.7%
- Bijelo Polje 192.87m€13.5%
- Danilovgrad 84.60m€5.9%
- Herceg Novi 76.34m€5.4%
- Kotor 66.09m€4.6%
- Bar 64.87m€4.5%
- Other municipalities (18) 288.36m€20.2%
- No municipality in the registry 10.96m€0.8%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- Mondal Industrija1.37m€ → 5.22m€+280.0%
- Fab Live1.29m€ → 4.86m€+278.1%
- Poliex13.86m€ → 31.11m€+124.4%
- Trudbenik3.14m€ → 6.80m€+116.8%
- Adriatic 425.98m€ → 11.57m€+93.4%
Largest employers
Employees and payroll cost per employee per month*
- 637857€
- 2581,404€
- 2541,803€
- 2481,233€
- 2162,192€
All companies (2,600)
Ranked by total revenue · Showing 1–50 of 2,600
- 1Meso-Promet02063344 · Bijelo PoljeRevenue share6.4%
- Revenue
- 91,859,972€
- Revenue change 2024→2025
- +5.6%
- Profit
- 3,694,867€
- Margin
- 4.0%
- Employees
- 637
- Payroll cost/emp./mo*
- 857€
- 2Primato P03016455 · Herceg NoviRevenue share3.3%
- Revenue
- 47,178,122€
- Revenue change 2024→2025
- +0.8%
- Profit
- 1,089,531€
- Margin
- 2.3%
- Employees
- 125
- Payroll cost/emp./mo*
- 928€
- 3Goranović02109301 · NikšićRevenue share3.2%
- Revenue
- 44,949,367€
- Revenue change 2024→2025
- +4.0%
- Profit
- 2,280,790€
- Margin
- 5.1%
- Employees
- 248
- Payroll cost/emp./mo*
- 1,233€
- 4Hemomont02204185 · PodgoricaRevenue share3.1%
- Revenue
- 44,340,351€
- Revenue change 2024→2025
- +12.2%
- Profit
- 974,179€
- Margin
- 2.2%
- Employees
- 254
- Payroll cost/emp./mo*
- 1,803€
- 5Trebjesa02000989 · NikšićRevenue share2.5%
- Revenue
- 36,268,342€
- Revenue change 2024→2025
- +2.3%
- Profit
- 4,166,655€
- Margin
- 11.5%
- Employees
- 216
- Payroll cost/emp./mo*
- 2,192€
- 6Imlek Boka02357950 · KotorRevenue share2.5%
- Revenue
- 35,557,990€
- Revenue change 2024→2025
- +2.5%
- Profit
- 771,415€
- Margin
- 2.2%
- Employees
- 49
- Payroll cost/emp./mo*
- 1,739€
- 7Uniprom02049520 · NikšićRevenue share2.4%
- Revenue
- 34,823,973€
- Revenue change 2024→2025
- -33.1%
- Profit
- 102,432€
- Margin
- 0.3%
- Employees
- 178
- Payroll cost/emp./mo*
- 1,583€
- 8Poliex02035057 · BeraneRevenue share2.2%
- Revenue
- 31,106,911€
- Revenue change 2024→2025
- +124.4%
- Profit
- 14,665,026€
- Margin
- 47.1%
- Employees
- 134
- Payroll cost/emp./mo*
- 1,585€
- 9Panvel02075512 · PodgoricaRevenue share1.8%
- Revenue
- 26,271,981€
- Revenue change 2024→2025
- +22.0%
- Profit
- 440,919€
- Margin
- 1.7%
- Employees
- 108
- Payroll cost/emp./mo*
- 1,875€
- 10Noblewood Adriatic03444759 · NikšićRevenue share1.7%
- Revenue
- 24,398,539€
- Revenue change 2024→2025
- +6.4%
- Profit
- 1,551,039€
- Margin
- 6.4%
- Employees
- 148
- Payroll cost/emp./mo*
- 2,100€
- 11Uniprom - Metali02915731 · NikšićRevenue share1.6%
- Revenue
- 22,989,707€
- Revenue change 2024→2025
- -21.8%
- Profit
- 2,259,509€
- Margin
- 9.8%
- Employees
- 37
- Payroll cost/emp./mo*
- 2,576€
- 12Bonesa02251531 · BarRevenue share1.5%
- Revenue
- 21,754,073€
- Revenue change 2024→2025
- -3.6%
- Profit
- 1,619,973€
- Margin
- 7.4%
- Employees
- 43
- Payroll cost/emp./mo*
- 1,342€
- 13Put-Gross02066360 · Bijelo PoljeRevenue share1.3%
- Revenue
- 19,009,540€
- Revenue change 2024→2025
- +2.2%
- Profit
- 303,059€
- Margin
- 1.6%
- Employees
- 194
- Payroll cost/emp./mo*
- 788€
- 14Agro Mont02377861 · NikšićRevenue share1.3%
- Revenue
- 18,099,454€
- Revenue change 2024→2025
- +22.5%
- Profit
- 2,367,155€
- Margin
- 13.1%
- Employees
- 87
- Payroll cost/emp./mo*
- 795€
- 15Montecco Inc02306689 · DanilovgradRevenue share1.1%
- Revenue
- 15,333,624€
- Revenue change 2024→2025
- +15.5%
- Profit
- 291,629€
- Margin
- 1.9%
- Employees
- 98
- Payroll cost/emp./mo*
- 1,448€
- 16Revenue share1.0%
- Revenue
- 14,760,692€
- Revenue change 2024→2025
- +5.3%
- Profit
- 955,049€
- Margin
- 6.5%
- Employees
- 119
- Payroll cost/emp./mo*
- 777€
- 17Miniko02196905 · NikšićRevenue share1.0%
- Revenue
- 14,513,923€
- Revenue change 2024→2025
- +23.1%
- Profit
- 301,376€
- Margin
- 2.1%
- Employees
- 100
- Payroll cost/emp./mo*
- 827€
- 18Tara - Aerospace02464691 · MojkovacRevenue share0.9%
- Revenue
- 13,526,000€
- Revenue change 2024→2025
- -44.6%
- Profit
- 1,930,581€
- Margin
- 14.3%
- Employees
- 211
- Payroll cost/emp./mo*
- 1,716€
- 19J & J Company02457563 · PodgoricaRevenue share0.9%
- Revenue
- 13,340,943€
- Revenue change 2024→2025
- +10.2%
- Profit
- 1,713,397€
- Margin
- 12.8%
- Employees
- 49
- Payroll cost/emp./mo*
- 921€
- 20Mokamard02247518 · PodgoricaRevenue share0.9%
- Revenue
- 13,114,196€
- Revenue change 2024→2025
- +37.2%
- Profit
- 1,415,196€
- Margin
- 10.8%
- Employees
- 15
- Payroll cost/emp./mo*
- 1,013€
- 21Mikro - Mont02425262 · Bijelo PoljeRevenue share0.9%
- Revenue
- 13,046,299€
- Revenue change 2024→2025
- +51.1%
- Profit
- 3,124,737€
- Margin
- 24.0%
- Employees
- 62
- Payroll cost/emp./mo*
- 824€
- 22Martex02124629 · CetinjeRevenue share0.9%
- Revenue
- 12,458,499€
- Revenue change 2024→2025
- -9.8%
- Profit
- 87,117€
- Margin
- 0.7%
- Employees
- 44
- Payroll cost/emp./mo*
- 912€
- 23Adriatic 4202700930 · Herceg NoviRevenue share0.8%
- Revenue
- 11,567,437€
- Revenue change 2024→2025
- +93.4%
- Profit
- -5,232,926€
- Margin
- -45.2%
- Employees
- 93
- Payroll cost/emp./mo*
- 2,866€
- 24Vib-Bas02325721 · NikšićRevenue share0.8%
- Revenue
- 11,477,978€
- Revenue change 2024→2025
- +11.4%
- Profit
- 93,816€
- Margin
- 0.8%
- Employees
- 35
- Payroll cost/emp./mo*
- 943€
- 25Čantrić02636590 · BeraneRevenue share0.7%
- Revenue
- 9,400,982€
- Revenue change 2024→2025
- +8.5%
- Profit
- 536,294€
- Margin
- 5.7%
- Employees
- 28
- Payroll cost/emp./mo*
- 898€
- 26Metron03054730 · PodgoricaRevenue share0.6%
- Revenue
- 9,234,756€
- Revenue change 2024→2025
- +5.9%
- Profit
- 250,535€
- Margin
- 2.7%
- Employees
- 34
- Payroll cost/emp./mo*
- 1,193€
- 27Trojan02123258 · BarRevenue share0.6%
- Revenue
- 8,797,874€
- Revenue change 2024→2025
- +30.6%
- Profit
- 1,461,241€
- Margin
- 16.6%
- Employees
- 38
- Payroll cost/emp./mo*
- 864€
- 28Daido Metal Kotor02013053 · KotorRevenue share0.6%
- Revenue
- 8,670,917€
- Revenue change 2024→2025
- +7.9%
- Profit
- 97,305€
- Margin
- 1.1%
- Employees
- 142
- Payroll cost/emp./mo*
- 1,685€
- 29Formal02712741 · PodgoricaRevenue share0.6%
- Revenue
- 8,661,106€
- Revenue change 2024→2025
- +14.5%
- Profit
- 1,583,903€
- Margin
- 18.3%
- Employees
- 19
- Payroll cost/emp./mo*
- 1,102€
- 30Ćatić Co02339137 · Bijelo PoljeRevenue share0.6%
- Revenue
- 8,353,359€
- Revenue change 2024→2025
- -1.8%
- Profit
- 424,200€
- Margin
- 5.1%
- Employees
- 35
- Payroll cost/emp./mo*
- 1,283€
- 31W & R Dinamic Company Limited02255693 · KotorRevenue share0.6%
- Revenue
- 7,967,534€
- Revenue change 2024→2025
- +11.1%
- Profit
- 1,460,441€
- Margin
- 18.3%
- Employees
- 32
- Payroll cost/emp./mo*
- 1,030€
- 32Inpek02016052 · PodgoricaRevenue share0.6%
- Revenue
- 7,878,140€
- Revenue change 2024→2025
- +8.8%
- Profit
- 212,259€
- Margin
- 2.7%
- Employees
- 84
- Payroll cost/emp./mo*
- 877€
- 33Šljukić Co02289725 · NikšićRevenue share0.5%
- Revenue
- 7,648,959€
- Revenue change 2024→2025
- -6.7%
- Profit
- 520,256€
- Margin
- 6.8%
- Employees
- 64
- Payroll cost/emp./mo*
- 1,211€
- 34Shamade-Co02153149 · PodgoricaRevenue share0.5%
- Revenue
- 7,612,593€
- Revenue change 2024→2025
- +10.4%
- Profit
- 48,874€
- Margin
- 0.6%
- Employees
- 53
- Payroll cost/emp./mo*
- 713€
- 35Nikola02441527 · BeraneRevenue share0.5%
- Revenue
- 7,607,477€
- Revenue change 2024→2025
- +10.6%
- Profit
- 291,941€
- Margin
- 3.8%
- Employees
- 79
- Payroll cost/emp./mo*
- 1,211€
- 36Pelengić Trade02271338 · Bijelo PoljeRevenue share0.5%
- Revenue
- 7,049,040€
- Revenue change 2024→2025
- -4.0%
- Profit
- 66,173€
- Margin
- 0.9%
- Employees
- 121
- Payroll cost/emp./mo*
- 747€
- 37Stratus02076195 · PodgoricaRevenue share0.5%
- Revenue
- 6,920,282€
- Revenue change 2024→2025
- +8.9%
- Profit
- 345,593€
- Margin
- 5.0%
- Employees
- 52
- Payroll cost/emp./mo*
- 1,148€
- 38Trudbenik02110156 · MojkovacRevenue share0.5%
- Revenue
- 6,801,576€
- Revenue change 2024→2025
- +116.8%
- Profit
- 2,120,728€
- Margin
- 31.2%
- Employees
- 19
- Payroll cost/emp./mo*
- 684€
- 39Don Don02757257 · DanilovgradRevenue share0.5%
- Revenue
- 6,755,614€
- Revenue change 2024→2025
- +10.0%
- Profit
- 633,325€
- Margin
- 9.4%
- Employees
- 43
- Payroll cost/emp./mo*
- 1,303€
- 40Rai M02396289 · NikšićRevenue share0.5%
- Revenue
- 6,676,757€
- Revenue change 2024→2025
- +23.6%
- Profit
- 1,548,237€
- Margin
- 23.2%
- Employees
- 22
- Payroll cost/emp./mo*
- 692€
- 41Water Group02437805 · KolašinRevenue share0.5%
- Revenue
- 6,545,484€
- Revenue change 2024→2025
- -2.2%
- Profit
- 390,052€
- Margin
- 6.0%
- Employees
- 82
- Payroll cost/emp./mo*
- 1,149€
- 42Dekoriva - Co02938588 · NikšićRevenue share0.4%
- Revenue
- 6,392,539€
- Revenue change 2024→2025
- +33.2%
- Profit
- 1,037,862€
- Margin
- 16.2%
- Employees
- 49
- Payroll cost/emp./mo*
- 875€
- 43Žitoprodukt02009676 · PljevljaRevenue share0.4%
- Revenue
- 6,372,352€
- Revenue change 2024→2025
- +12.8%
- Profit
- 278,304€
- Margin
- 4.4%
- Employees
- 72
- Payroll cost/emp./mo*
- 877€
- 44Merkator International02088266 · Bijelo PoljeRevenue share0.4%
- Revenue
- 6,346,471€
- Revenue change 2024→2025
- +13.4%
- Profit
- 347,626€
- Margin
- 5.5%
- Employees
- 101
- Payroll cost/emp./mo*
- 1,038€
- 45Mediteranea02619784 · CetinjeRevenue share0.4%
- Revenue
- 6,171,336€
- Revenue change 2024→2025
- -3.5%
- Profit
- 428,453€
- Margin
- 6.9%
- Employees
- 18
- Payroll cost/emp./mo*
- 783€
- 46Vib Beton03218830 · KolašinRevenue share0.4%
- Revenue
- 6,039,861€
- Revenue change 2024→2025
- +30.8%
- Profit
- 153,190€
- Margin
- 2.5%
- Employees
- 20
- Payroll cost/emp./mo*
- 846€
- 47Lamex02816164 · DanilovgradRevenue share0.4%
- Revenue
- 5,729,897€
- Revenue change 2024→2025
- +62.0%
- Profit
- 286,664€
- Margin
- 5.0%
- Employees
- 59
- Payroll cost/emp./mo*
- 1,365€
- 48Epcg-Željezara Nikšić03530272 · NikšićRevenue share0.4%
- Revenue
- 5,713,537€
- Revenue change 2024→2025
- +73.0%
- Profit
- 307,508€
- Margin
- 5.4%
- Employees
- 258
- Payroll cost/emp./mo*
- 1,404€
- 49Bekom Co02330342 · PodgoricaRevenue share0.4%
- Revenue
- 5,649,351€
- Revenue change 2024→2025
- -14.9%
- Profit
- 278,571€
- Margin
- 4.9%
- Employees
- 81
- Payroll cost/emp./mo*
- 315€
- 50Ferro - Stil02353679 · BarRevenue share0.4%
- Revenue
- 5,367,209€
- Revenue change 2024→2025
- +26.3%
- Profit
- 377,711€
- Margin
- 7.0%
- Employees
- 40
- Payroll cost/emp./mo*
- 1,369€
* 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 93 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
Manufacturing companies in Montenegro ranked by revenue 2025 →
Source: Tax Administration / CRPSCurrency: EUR