Revenue
130.83m€+75% since 2015
0.7% of Montenegro's revenue
Mining
59 companies earned 130.83m€ in 2025, 0.7% of all company revenue in Montenegro. It ranks 13 of 18 sectors by revenue. Revenue has grown 1.8× since 2015.
Nationwide · 2025
Year
Overview
Companies
59+19 since 2015
24 with at most one employee
Employees
1,923+44% since 2015
Largest employer: Rudnik Uglja (1,113)
Profit margin
-0.4%6.5 pts below average
Total profit: -526,677€
This sector -0.4%Montenegro: 6.1%
Payroll cost/emp./mo*
1,754€41% above average
Average per employee, not per company
This sector 1,754€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 74,689,431€ | 40 |
| 2016 | 73,602,398€ | 41 |
| 2017 | 86,441,515€ | 42 |
| 2018 | 100,395,971€ | 45 |
| 2019 | 104,871,699€ | 52 |
| 2020 | 103,846,550€ | 55 |
| 2021 | 105,710,342€ | 57 |
| 2022 | 128,290,278€ | 55 |
| 2023 | 148,434,637€ | 58 |
| 2024 | 159,456,246€ | 55 |
| 2025 (Preliminary) | 130,832,070€ | 59 |
What changed in 2025
Growth is measured on the same companies, which filed for both years.
- Revenue, same companies (53)
- 159.36m€ → 130.82m€
- Employees, same companies
- 1,844 → 1,917
- Payroll cost per employee, same companies
- 1,834€ → 1,757€
- Filed for 2025, not for 2024
- 6 companies · 13,049€
- Filed for 2024, not for 2025
- 2 companies, 99,216€ in 2024
Activities in this sector
37.2%
- Companies
- 2
- Employees
- 1,119
- Revenue
- 48,716,302€
- Companies
- 19
- Employees
- 302
- Revenue
- 40,766,542€
- Companies
- 5
- Employees
- 203
- Revenue
- 18,401,389€
- Companies
- 8
- Employees
- 180
- Revenue
- 12,030,520€
- Companies
- 19
- Employees
- 110
- Revenue
- 9,866,623€
- Companies
- 5
- Employees
- 8
- Revenue
- 1,046,422€
- Companies
- 1
- Employees
- 1
- Revenue
- 4,272€
Total
- Companies
- 59
- Employees
- 1,923
- Revenue
- 130,832,070€
Where they are and who is growing
Revenue by municipality
Share of the sector's revenue
- Pljevlja 65.01m€49.7%
- Bar 18.67m€14.3%
- Rožaje 14.39m€11.0%
- Nikšić 14.34m€11.0%
- Kotor 9.58m€7.3%
- Herceg Novi 3.03m€2.3%
- Podgorica 2.93m€2.2%
- Other municipalities (7) 2.88m€2.2%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- Global Mine2.82m€ → 5.88m€+108.6%
- Jokić Kimont1.16m€ → 2.23m€+92.1%
- Kvatro-RH2.68m€ → 3.56m€+32.6%
- Bokić2.20m€ → 2.73m€+24.1%
- Tofi9.52m€ → 10.83m€+13.8%
Largest employers
Employees and payroll cost per employee per month*
- 1,1131,830€
- 1581,700€
- 1052,100€
- 1042,024€
- 691,077€
All companies (59)
Ranked by total revenue · Showing 1–50 of 59
- 1Rudnik Uglja02009501 · PljevljaRevenue share37.2%
- Revenue
- 48,716,302€
- Revenue change 2024→2025
- -35.0%
- Profit
- -6,850,042€
- Margin
- -14.1%
- Employees
- 1,113
- Payroll cost/emp./mo*
- 1,830€
- 2Euromix Beton02650258 · BarRevenue share13.8%
- Revenue
- 18,100,024€
- Revenue change 2024→2025
- -21.0%
- Profit
- 1,498,112€
- Margin
- 8.3%
- Employees
- 104
- Payroll cost/emp./mo*
- 2,024€
- 3Gradir Montenegro02620359 · PljevljaRevenue share12.5%
- Revenue
- 16,290,182€
- Revenue change 2024→2025
- +6.7%
- Profit
- 144,589€
- Margin
- 0.9%
- Employees
- 158
- Payroll cost/emp./mo*
- 1,700€
- 4Tofi02066769 · RožajeRevenue share8.3%
- Revenue
- 10,831,357€
- Revenue change 2024→2025
- +13.8%
- Profit
- 2,349,071€
- Margin
- 21.7%
- Employees
- 42
- Payroll cost/emp./mo*
- 1,099€
- 5Tujko02125200 · KotorRevenue share5.6%
- Revenue
- 7,352,230€
- Revenue change 2024→2025
- -1.7%
- Profit
- 334,318€
- Margin
- 4.5%
- Employees
- 69
- Payroll cost/emp./mo*
- 1,077€
- 6Global Mine03628850 · NikšićRevenue share4.5%
- Revenue
- 5,878,728€
- Revenue change 2024→2025
- +108.6%
- Profit
- -203,172€
- Margin
- -3.5%
- Employees
- 105
- Payroll cost/emp./mo*
- 2,100€
- 7Zeta-Mine03267458 · NikšićRevenue share3.2%
- Revenue
- 4,167,653€
- Revenue change 2024→2025
- -62.0%
- Profit
- -161,954€
- Margin
- -3.9%
- Employees
- 60
- Payroll cost/emp./mo*
- 3,227€
- 8Kvatro-RH02382997 · RožajeRevenue share2.7%
- Revenue
- 3,557,341€
- Revenue change 2024→2025
- +32.6%
- Profit
- 404,268€
- Margin
- 11.4%
- Employees
- 33
- Payroll cost/emp./mo*
- 1,147€
- 9Bokić02649047 · Herceg NoviRevenue share2.1%
- Revenue
- 2,726,335€
- Revenue change 2024→2025
- +24.1%
- Profit
- 192,178€
- Margin
- 7.0%
- Employees
- 37
- Payroll cost/emp./mo*
- 496€
- 10Jokić Kimont02750619 · KotorRevenue share1.7%
- Revenue
- 2,231,329€
- Revenue change 2024→2025
- +92.1%
- Profit
- 148,679€
- Margin
- 6.7%
- Employees
- 14
- Payroll cost/emp./mo*
- 2,026€
- 11Novi Boksiti03555631 · NikšićRevenue share1.6%
- Revenue
- 2,109,427€
- Revenue change 2024→2025
- +998.2%
- Profit
- 89,463€
- Margin
- 4.2%
- Employees
- 37
- Payroll cost/emp./mo*
- 1,904€
- 12Montenegroput02341794 · Bijelo PoljeRevenue share1.1%
- Revenue
- 1,427,920€
- Revenue change 2024→2025
- +13.7%
- Profit
- 98,195€
- Margin
- 6.9%
- Employees
- 23
- Payroll cost/emp./mo*
- 713€
- 13Rudkop03066711 · NikšićRevenue share0.8%
- Revenue
- 1,063,866€
- Revenue change 2024→2025
- +90,828.7%
- Profit
- 671,833€
- Margin
- 63.2%
- Employees
- 8
- Payroll cost/emp./mo*
- 1,304€
- 14North-Ex03267547 · NikšićRevenue share0.7%
- Revenue
- 915,045€
- Revenue change 2024→2025
- +6.1%
- Profit
- 72,013€
- Margin
- 7.9%
- Employees
- 3
- Payroll cost/emp./mo*
- 1,417€
- 15Kop-Co02427257 · Bijelo PoljeRevenue share0.6%
- Revenue
- 828,375€
- Revenue change 2024→2025
- -48.4%
- Profit
- 479,077€
- Margin
- 57.8%
- Employees
- 11
- Payroll cost/emp./mo*
- 724€
- 16Bilby International03553701 · PodgoricaRevenue share0.6%
- Revenue
- 720,566€
- Revenue change 2024→2025
- -21.3%
- Profit
- 390,642€
- Margin
- 54.2%
- Employees
- 2
- Payroll cost/emp./mo*
- 8,602€
- 17Maraš Company03128270 · PodgoricaRevenue share0.5%
- Revenue
- 713,860€
- Revenue change 2024→2025
- +12.6%
- Profit
- 80,746€
- Margin
- 11.3%
- Employees
- 6
- Payroll cost/emp./mo*
- 976€
- 18Muriz02068974 · BarRevenue share0.4%
- Revenue
- 571,081€
- Revenue change 2024→2025
- -27.4%
- Profit
- 56,686€
- Margin
- 9.9%
- Employees
- 7
- Payroll cost/emp./mo*
- 1,134€
- 19Račica02008629 · TivatRevenue share0.2%
- Revenue
- 309,439€
- Revenue change 2024→2025
- +6.8%
- Profit
- -39,375€
- Margin
- -12.7%
- Employees
- 7
- Payroll cost/emp./mo*
- 1,244€
- 20Bekomerc02178982 · Herceg NoviRevenue share0.2%
- Revenue
- 300,287€
- Revenue change 2024→2025
- -33.8%
- Profit
- 25,033€
- Margin
- 8.3%
- Employees
- 7
- Payroll cost/emp./mo*
- 982€
- 21Radmax03321533 · PodgoricaRevenue share0.2%
- Revenue
- 288,617€
- Revenue change 2024→2025
- +38.2%
- Profit
- 113,611€
- Margin
- 39.4%
- Employees
- 4
- Payroll cost/emp./mo*
- 1,126€
- 22Milonjić i Ortaci02255090 · PodgoricaRevenue share0.2%
- Revenue
- 282,198€
- Revenue change 2024→2025
- +24.2%
- Profit
- 57,436€
- Margin
- 20.4%
- Employees
- 7
- Payroll cost/emp./mo*
- 656€
- 23Cijevna Commerce02976501 · PodgoricaRevenue share0.2%
- Revenue
- 257,193€
- Revenue change 2024→2025
- +83.7%
- Profit
- 99,221€
- Margin
- 38.6%
- Employees
- 1
- Payroll cost/emp./mo*
- 398€
- 24Pre Stack Solutions-Geom03424944 · PodgoricaRevenue share0.2%
- Revenue
- 215,692€
- Revenue change 2024→2025
- -76.4%
- Profit
- 69,862€
- Margin
- 32.4%
- Employees
- 2
- Payroll cost/emp./mo*
- 923€
- 25Hans Mining Industry & Investment Co03291146 · PodgoricaRevenue share0.2%
- Revenue
- 201,166€
- Revenue change 2024→2025
- +885.1%
- Profit
- 26,322€
- Margin
- 13.1%
- Employees
- 6
- Payroll cost/emp./mo*
- 686€
- 26Kom Kop03653528 · BeraneRevenue share0.1%
- Revenue
- 175,515€
- Revenue change 2024→2025
- +273.5%
- Profit
- 78,647€
- Margin
- 44.8%
- Employees
- 2
- Payroll cost/emp./mo*
- 1,796€
- 27Radović Cop02785773 · PodgoricaRevenue share0.1%
- Revenue
- 162,704€
- Revenue change 2024→2025
- -4.0%
- Profit
- 15,070€
- Margin
- 9.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 675€
- 28Pentar02725215 · NikšićRevenue share0.1%
- Revenue
- 132,559€
- Revenue change 2024→2025
- +56.7%
- Profit
- 7,252€
- Margin
- 5.5%
- Employees
- 7
- Payroll cost/emp./mo*
- 706€
- 29Boj Trans02345714 · GusinjeRevenue share<0.1%
- Revenue
- 110,115€
- Revenue change 2024→2025
- +76.1%
- Profit
- 10,056€
- Margin
- 9.1%
- Employees
- 2
- Payroll cost/emp./mo*
- 684€
- 30Geoservis02333996 · PodgoricaRevenue share<0.1%
- Revenue
- 72,415€
- Revenue change 2024→2025
- -47.7%
- Profit
- -22,059€
- Margin
- -30.5%
- Employees
- 3
- Payroll cost/emp./mo*
- 694€
- 31Giga Company03256936 · NikšićRevenue share<0.1%
- Revenue
- 59,902€
- Revenue change 2024→2025
- -33.2%
- Profit
- 4,161€
- Margin
- 6.9%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,172€
- 32Planica Trans02280841 · TuziRevenue share<0.1%
- Revenue
- 16,636€
- Revenue change 2024→2025
- +93.8%
- Profit
- -6,045€
- Margin
- -36.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 678€
- 33Iskop Veljić03802388 · BeraneRevenue share<0.1%
- Revenue
- 13,000€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 12,122€
- Margin
- 93.2%
- Employees
- 0
- Payroll cost/emp./mo*
- —
- 34Montim02643057 · PodgoricaRevenue share<0.1%
- Revenue
- 11,969€
- Revenue change 2024→2025
- +3.1%
- Profit
- -8,779€
- Margin
- -73.3%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,175€
- 35North Aegean Mining and Engineering03256103 · NikšićRevenue share<0.1%
- Revenue
- 5,000€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -22,600€
- Margin
- -452.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,958€
- 36Ramini Company02386887 · NikšićRevenue share<0.1%
- Revenue
- 4,703€
- Revenue change 2024→2025
- -94.3%
- Profit
- -46,242€
- Margin
- -983.2%
- Employees
- 2
- Payroll cost/emp./mo*
- 719€
- 37Newpark Montenegro03302563 · PodgoricaRevenue share<0.1%
- Revenue
- 4,272€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -46,829€
- Margin
- Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio.
- Employees
- 1
- Payroll cost/emp./mo*
- 1,383€
- 38MPC Comerc02829924 · PodgoricaRevenue share<0.1%
- Revenue
- 2,925€
- Revenue change 2024→2025
- -72.9%
- Profit
- -21,811€
- Margin
- -745.7%
- Employees
- 2
- Payroll cost/emp./mo*
- 509€
- 39Largus02160927 · ZetaRevenue share<0.1%
- Revenue
- 1,900€
- Revenue change 2024→2025
- +14.9%
- Profit
- -135€
- Margin
- -7.1%
- Employees
- 1
- Payroll cost/emp./mo*
- —
- 40Boksiti02004585 · CetinjeRevenue share<0.1%
- Revenue
- 1,780€
- Revenue change 2024→2025
- -58.3%
- Profit
- -4,178€
- Margin
- -234.7%
- Employees
- 1
- Payroll cost/emp./mo*
- —
- 41Montalp Mining and Engineering03212319 · NikšićRevenue share<0.1%
- Revenue
- 228€
- Revenue change 2024→2025
- -89.0%
- Profit
- -53,502€
- Margin
- Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio.
- Employees
- 1
- Payroll cost/emp./mo*
- 3,526€
- 42Uniprom Bentonit03248135 · PodgoricaRevenue share<0.1%
- Revenue
- 165€
- Revenue change 2024→2025
- -97.3%
- Profit
- -5,990€
- Margin
- Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio.
- Employees
- 2
- Payroll cost/emp./mo*
- —
- 43D&P Golem03781143 · PodgoricaRevenue share<0.1%
- Revenue
- 49€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -84,742€
- Margin
- Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio.
- Employees
- 1
- Payroll cost/emp./mo*
- 562€
- 44Mighty Monte Mine03247104 · PodgoricaRevenue share<0.1%
- Revenue
- 20€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -5,590€
- Margin
- Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio.
- Employees
- 1
- Payroll cost/emp./mo*
- 338€
- 45Morača02034476 · PodgoricaRevenue share0.0%
- Revenue
- 0€
- Revenue change 2024→2025
- -100.0%
- Profit
- -3,332€
- Margin
- —
- Employees
- 1
- Payroll cost/emp./mo*
- —
- 46Beton Transport Grupa02347334 · BarRevenue share0.0%
- Revenue
- 0€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -25,827€
- Margin
- —
- Employees
- 1
- Payroll cost/emp./mo*
- —
- 47Brskovo Mine02770440 · PodgoricaRevenue share0.0%
- Revenue
- 0€
- Revenue change 2024→2025
- -100.0%
- Profit
- -124,921€
- Margin
- —
- Employees
- 4
- Payroll cost/emp./mo*
- 437€
- 48Braća Mugoša02257033 · PodgoricaRevenue share0.0%
- Revenue
- 0€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -8,164€
- Margin
- —
- Employees
- 1
- Payroll cost/emp./mo*
- 675€
- 49MD Logistic Mne03793362 · PljevljaRevenue share0.0%
- Revenue
- 0€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- -7,233€
- Margin
- —
- Employees
- 2
- Payroll cost/emp./mo*
- —
- 50Monte-Mine03186466 · PodgoricaRevenue share0.0%
- Revenue
- 0€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -1€
- Margin
- —
- Employees
- 1
- Payroll cost/emp./mo*
- —
* 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 →
Source: Tax Administration / CRPSCurrency: EUR