Revenue
4.3% of Montenegro's revenue
5,140 companies earned 754.04m€ in 2025, 4.3% of all company revenue in Montenegro. It ranks 7 of 18 sectors by revenue. Revenue has grown 2.9× since 2015.
4.3% of Montenegro's revenue
3,148 with at most one employee
Largest employer: Net Montenegro (605)
Total profit: 73.05m€
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 260,465,104€ | 1,693 |
| 2016 | 282,295,144€ | 1,857 |
| 2017 | 297,746,589€ | 2,096 |
| 2018 | 355,444,030€ | 2,719 |
| 2019 | 389,657,902€ | 3,076 |
| 2020 | 379,713,011€ | 3,280 |
| 2021 | 460,416,960€ | 3,544 |
| 2022 | 481,963,069€ | 4,157 |
| 2023 | 573,319,896€ | 4,742 |
| 2024 | 663,861,015€ | 5,063 |
| 2025 (Preliminary) | 754,035,790€ | 5,140 |
The number of companies jumped most in 2018: from 2,096 to 2,719.
Growth is measured on the same companies, which filed for both years.
Share of the sector's revenue
Revenue 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 5,140
* 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 383 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
| Employees |
|---|
| Payroll cost/emp./mo* |
|---|
| 1 | Net Montenegro03076067 · Podgorica | 4.3% | 32,697,603€ | -11.0% | 373,995€ | 1.1% | 605 | 1,312€ |
| 2 | Krnovo Green Energy02713527 · Nikšić | 2.9% | 22,131,129€ | +1.0% | 3,562,943€ | 16.1% | 1 | 613€ |
| 3 | Telemont02241102 · Podgorica | 2.1% | 16,048,736€ | +6.3% | 438,215€ | 2.7% | 50 | 2,287€ |
| 4 | Permonte02695154 · Podgorica | 1.9% | 14,515,999€ | +4.4% | 32,605€ | 0.2% | 13 | 2,221€ |
| 5 | Etg Grupa02264498 · Podgorica | 1.7% | 12,606,478€ | +54.5% | 443,860€ | 3.5% | 92 | 1,125€ |
| 6 | Coinis03014215 · Podgorica | 1.5% | 11,503,159€ | +5.6% | 2,934,810€ | 25.5% | 84 | 2,624€ |
| 7 | B2B03168212 · Bar | 1.2% | 9,201,960€ | -8.5% | 1,775,063€ | 19.3% | 180 | 1,228€ |
| 8 | Indel Inženjering02624214 · Podgorica | 1.0% | 7,771,072€ | -7.2% | 135,457€ | 1.7% | 28 | 2,275€ |
| 9 | Krušo02100452 · Herceg Novi | 1.0% | 7,183,609€ | +20.4% | 662,136€ | 9.2% | 96 | 1,292€ |
| 10 | Avista Realty Group02699532 · Bar | 0.9% | 6,914,110€ | +4,082.4% | 124,849€ | 1.8% | 5 | 5,100€ |
| 11 | Entext Inženjering02652340 · Podgorica | 0.8% | 6,278,419€ | +9.2% | 300,959€ | 4.8% | 20 | 2,616€ |
| 12 | Geo-Master03327205 · Bijelo Polje | 0.7% | 5,626,158€ | +1,452.8% | 794,550€ | 14.1% | 9 | 1,479€ |
| 13 | Medex Electric03399290 · Podgorica | 0.7% | 5,482,586€ | +64.0% | 91,827€ | 1.7% | 2 | 1,882€ |
| 14 | Vigoris Ecotech03129896 · Podgorica | 0.7% | 5,468,602€ | +36.5% | 84,451€ | 1.5% | 41 | 2,423€ |
| 15 | Payten02460033 · Podgorica | 0.6% | 4,719,855€ | +35.5% | 280,828€ | 5.9% | 23 | 2,355€ |
| 16 | Montenegro Metropolis Media02333694 · Podgorica | 0.6% | 4,657,429€ | +11.5% | 2,326,716€ | 50.0% | 18 | 1,656€ |
| 17 | Imperio Holdings Limited02916916 · Herceg Novi | 0.6% | 4,587,640€ | +58.1% | 1,052,110€ | 22.9% | 22 | 1,580€ |
| 18 | Redcat02735296 · Podgorica | 0.6% | 4,444,950€ | -5.0% | -63,029€ | -1.4% | 184 | 1,543€ |
| 19 | A-Tim Studio03075109 · Podgorica | 0.6% | 4,278,775€ | +418.8% | 1,053,273€ | 24.6% | 16 | 1,129€ |
| 20 | Ing Invest02258633 · Danilovgrad | 0.5% | 3,913,350€ | +59.1% | 325,992€ | 8.3% | 75 | 1,812€ |
| 21 | Elnos Srbija03282716 · Podgorica | 0.5% | 3,750,396€ | +118.6% | 269,939€ | 7.2% | 0 | — |
| 22 | Genmont03368459 · Tivat | 0.5% | 3,705,549€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 3,389,001€ | 91.5% | 1 | 563€ |
| 23 | Implemenia03121593 · Herceg Novi | 0.5% | 3,619,461€ | -19.2% | 109,339€ | 3.0% | 26 | 1,180€ |
| 24 | Montvet02304457 · Podgorica | 0.5% | 3,592,443€ | +6.1% | 424,679€ | 11.8% | 58 | 1,053€ |
| 25 | Sistem - Mne02919460 · Podgorica | 0.5% | 3,554,487€ | -10.7% | 431,223€ | 12.1% | 9 | 1,996€ |
| 26 | Lovćen Auto02830043 · Podgorica | 0.5% | 3,542,661€ | +11.6% | 251,884€ | 7.1% | 117 | 1,513€ |
| 27 | Direct Media02350394 · Podgorica | 0.5% | 3,477,678€ | -8.8% | 95,021€ | 2.7% | 13 | 2,071€ |
| 28 | Cau - Centar za Arhitekturu i Urbanizam02701111 · Podgorica | 0.5% | 3,413,559€ | -34.2% | 77,709€ | 2.3% | 26 | 2,546€ |
| 29 | Universal Media Podgorica02980169 · Podgorica | 0.4% | 3,320,811€ | +4.7% | 217,458€ | 6.5% | 11 | 1,351€ |
| 30 | Saniteko Group02280817 · Podgorica | 0.4% | 3,280,060€ | +27.9% | 80,444€ | 2.5% | 21 | 1,128€ |
| 31 | Yes Event02416174 · Budva | 0.4% | 3,270,554€ | +44.2% | 317,273€ | 9.7% | 14 | 1,725€ |
| 32 | Civil Engineer02809010 · Podgorica | 0.4% | 3,251,006€ | +77.0% | 452,708€ | 13.9% | 24 | 1,142€ |
| 33 | Centar za Ekotoksikološka Ispitivanja02908433 · Podgorica | 0.4% | 3,140,692€ | +1.2% | 195,512€ | 6.2% | 84 | 1,876€ |
| 34 | Balance Ak03368955 · Tivat | 0.4% | 3,074,277€ | +1,168,826.6% | 2,908,552€ | 94.6% | 1 | 563€ |
| 35 | Nex-Gen Construction03622053 · Podgorica | 0.4% | 2,992,525€ | +1,056.3% | 2,327,585€ | 77.8% | 3 | 3,851€ |
| 36 | Holdco East03189414 · Podgorica | 0.4% | 2,904,614€ | -63.1% | -319,921€ | -11.0% | 1 | 929€ |
| 37 | Bencom02199653 · Herceg Novi | 0.4% | 2,744,860€ | +18.7% | 401,007€ | 14.6% | 56 | 2,477€ |
| 38 | Elnos Crna Gora02771195 · Podgorica | 0.4% | 2,723,025€ | +40.3% | 84,305€ | 3.1% | 15 | 2,772€ |
| 39 | Tascal Engineering03264734 · Podgorica | 0.4% | 2,655,904€ | +32.3% | 660,744€ | 24.9% | 15 | 2,525€ |
| 40 | Sigma Delta Holdings02619105 · Podgorica | 0.3% | 2,478,485€ | 0.0% | 2,460,235€ | 99.3% | 1 | 699€ |
| 41 | Interkonekcija03359158 · Podgorica | 0.3% | 2,457,671€ | +172.1% | 15,810€ | 0.6% | 4 | 1,909€ |
| 42 | Grafički Dizajn Solucije03115356 · Podgorica | 0.3% | 2,399,022€ | -21.4% | 68,746€ | 2.9% | 2 | 1,142€ |
| 43 | Siks03476278 · Podgorica | 0.3% | 2,296,304€ | +59.0% | 62,101€ | 2.7% | 32 | 2,490€ |
| 44 | Energoinvest D.D.-Sarajevo03019926 · Podgorica | 0.3% | 2,274,636€ | +131.8% | -18,702€ | -0.8% | 1 | 854€ |
| 45 | Artek02770865 · Podgorica | 0.3% | 2,165,137€ | +34.8% | 460,331€ | 21.3% | 6 | 1,003€ |
| 46 | Ernst & Young Montenegro02759080 · Podgorica | 0.3% | 2,134,809€ | +26.0% | 19,949€ | 0.9% | 23 | 2,526€ |
| 47 | Merit Montenegro03075958 · Podgorica | 0.3% | 2,121,313€ | -83.1% | -422,019€ | -19.9% | 1 | 2,734€ |
| 48 | Weblab03007448 · Bar | 0.3% | 2,120,853€ | +14.6% | 124,108€ | 5.9% | 31 | 764€ |
| 49 | Timing02684543 · Danilovgrad | 0.3% | 2,114,971€ | -43.5% | 88,159€ | 4.2% | 33 | 1,588€ |
| 50 | Zarubica Company02264862 · Nikšić | 0.3% | 2,114,393€ | +8.9% | 67,493€ | 3.2% | 23 | 794€ |