Revenue
3.6% of Montenegro's revenue
1,939 companies earned 641.26m€ in 2025, 3.6% of all company revenue in Montenegro. It ranks 8 of 18 sectors by revenue. Revenue has grown 2.2× since 2015.
3.6% of Montenegro's revenue
1,369 with at most one employee
Largest employer: Mtel (559)
Total profit: 121.61m€
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 291,103,596€ | 327 |
| 2016 | 294,357,002€ | 366 |
| 2017 | 318,377,841€ | 427 |
| 2018 | 330,327,585€ | 510 |
| 2019 | 327,716,410€ | 570 |
| 2020 | 317,986,899€ | 678 |
| 2021 | 344,010,078€ | 886 |
| 2022 | 461,575,305€ | 1,491 |
| 2023 | 543,598,360€ | 1,789 |
| 2024 | 573,609,156€ | 1,893 |
| 2025 (Preliminary) | 641,264,304€ | 1,939 |
The number of companies jumped most in 2022: from 886 to 1,491.
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 1,939
* 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 39 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 | Mtel02655284 · Podgorica | 28.6% | 183,440,058€ | +76.8% | 76,703,936€ | 41.8% | 559 | 2,217€ |
| 2 | Crnogorski Telekom02289377 · Podgorica | 14.7% | 94,305,603€ | +2.9% | 7,704,422€ | 8.2% | 465 | 2,357€ |
| 3 | One Crna Gora02242974 · Podgorica | 10.9% | 69,727,237€ | +2.7% | 12,482,809€ | 17.9% | 384 | 2,214€ |
| 4 | Telemach Crna Gora02811618 · Podgorica | 2.5% | 16,022,459€ | +2.5% | 1,194,063€ | 7.5% | 131 | 1,481€ |
| 5 | Epam Systems Montenegro03381447 · Podgorica | 2.0% | 12,563,722€ | -15.0% | 997,278€ | 7.9% | 234 | 3,849€ |
| 6 | Stolitomson Company03399575 · Tivat | 1.9% | 12,059,648€ | -58.2% | 79,075€ | 0.7% | 2 | 13,467€ |
| 7 | Domen02686473 · Podgorica | 1.6% | 10,135,097€ | +4.2% | 3,570,979€ | 35.2% | 7 | 5,114€ |
| 8 | Čikom02177579 · Podgorica | 1.4% | 9,294,008€ | -8.2% | 289,058€ | 3.1% | 73 | 2,430€ |
| 9 | Ericsson Ab Štokholm03014649 · Podgorica | 1.3% | 8,653,212€ | +0.6% | 249,370€ | 2.9% | 122 | 2,208€ |
| 10 | Tungsten Montenegro03428184 · Podgorica | 1.1% | 6,760,599€ | +4.1% | 394,225€ | 5.8% | 117 | 3,870€ |
| 11 | Radio - Difuzni Centar02394294 · Podgorica | 0.9% | 5,851,746€ | +2.4% | 45,134€ | 0.8% | 107 | 1,857€ |
| 12 | Agencija za Elektronske Komunikacije i Poštansku Djelatnost - Podgorica02326710 · Podgorica | 0.9% | 5,840,878€ | +14.1% | 923,492€ | 15.8% | 77 | 3,452€ |
| 13 | G Tech02787768 · Podgorica | 0.7% | 4,317,154€ | +15.6% | 161,785€ | 3.7% | 15 | 1,690€ |
| 14 | Galleon02780798 · Podgorica | 0.6% | 3,780,000€ | +5.3% | 275,360€ | 7.3% | 178 | 1,419€ |
| 15 | Logate02632284 · Podgorica | 0.5% | 3,505,565€ | +16.8% | 297,429€ | 8.5% | 70 | 2,176€ |
| 16 | Adriacore It Solutions03158373 · Podgorica | 0.5% | 3,291,355€ | -43.6% | -128,389€ | -3.9% | 13 | 1,248€ |
| 17 | BGS Consulting03110222 · Podgorica | 0.5% | 3,048,402€ | +11.9% | 735,329€ | 24.1% | 52 | 2,772€ |
| 18 | Playrix Montenegro03489159 · Podgorica | 0.4% | 2,820,315€ | -42.8% | 200,345€ | 7.1% | 42 | 4,741€ |
| 19 | Wireless Montenegro02863812 · Podgorica | 0.4% | 2,710,237€ | -11.1% | 166,227€ | 6.1% | 19 | 2,551€ |
| 20 | NS Group02862786 · Podgorica | 0.4% | 2,680,599€ | +333.9% | 13,394€ | 0.5% | 3 | 840€ |
| 21 | SKY Towers Infrastructure03554775 · Podgorica | 0.4% | 2,668,162€ | +11.9% | 1,539,607€ | 57.7% | 3 | 4,039€ |
| 22 | Network Communication02390663 · Tivat | 0.4% | 2,424,333€ | +46.1% | 267,118€ | 11.0% | 30 | 1,031€ |
| 23 | Axians - Crna Gora02358514 · Podgorica | 0.4% | 2,390,812€ | +32.8% | 9,902€ | 0.4% | 14 | 3,331€ |
| 24 | Polako Development03493881 · Podgorica | 0.4% | 2,362,960€ | +36.5% | 982,426€ | 41.6% | 27 | 2,696€ |
| 25 | Amplitudo02907259 · Podgorica | 0.4% | 2,331,224€ | +9.3% | 171,843€ | 7.4% | 65 | 2,123€ |
| 26 | Solvership02713098 · Podgorica | 0.3% | 2,210,518€ | +10.6% | 440,610€ | 19.9% | 37 | 2,857€ |
| 27 | Amdocs Montenegro02953811 · Podgorica | 0.3% | 2,157,126€ | +408.3% | -27,390€ | -1.3% | 5 | 4,406€ |
| 28 | International Bridge03037258 · Podgorica | 0.3% | 2,046,263€ | +22.8% | 42,207€ | 2.1% | 65 | 2,331€ |
| 29 | Belka Games Me03418545 · Budva | 0.3% | 1,969,609€ | -39.2% | 76,129€ | 3.9% | 23 | 5,079€ |
| 30 | Synergysuite03131343 · Podgorica | 0.3% | 1,910,877€ | +9.2% | 17,241€ | 0.9% | 48 | 2,878€ |
| 31 | Vega Delivery Center Montenegro03374700 · Podgorica | 0.3% | 1,893,845€ | -1.9% | 5,537€ | 0.3% | 46 | 2,315€ |
| 32 | Datalab.Mn02679744 · Podgorica | 0.3% | 1,857,323€ | +5.9% | 451,061€ | 24.3% | 22 | 1,601€ |
| 33 | Euronet Services03314766 · Podgorica | 0.3% | 1,842,420€ | +12.5% | -275,979€ | -15.0% | 2 | 2,826€ |
| 34 | First Line Software03413772 · Budva | 0.3% | 1,832,615€ | -37.8% | -81,623€ | -4.5% | 106 | 1,067€ |
| 35 | Clicker Team03648257 · Podgorica | 0.3% | 1,652,490€ | +97.6% | 354,036€ | 21.4% | 13 | 6,751€ |
| 36 | VG Efiskal02631911 · Bar | 0.2% | 1,535,335€ | +10.1% | 190,182€ | 12.4% | 20 | 1,868€ |
| 37 | Ai03243966 · Podgorica | 0.2% | 1,518,284€ | +40.7% | 399,366€ | 26.3% | 20 | 1,455€ |
| 38 | Montora Software02335433 · Podgorica | 0.2% | 1,504,014€ | +2.5% | 40,979€ | 2.7% | 27 | 1,239€ |
| 39 | E - Mon02420414 · Podgorica | 0.2% | 1,480,868€ | -4.6% | 349,653€ | 23.6% | 6 | 3,075€ |
| 40 | MT Consulting03253503 · Podgorica | 0.2% | 1,472,020€ | +36.0% | 219,520€ | 14.9% | 3 | 8,955€ |
| 41 | Satvision03040313 · Podgorica | 0.2% | 1,468,364€ | +29.0% | 309,390€ | 21.1% | 21 | 1,689€ |
| 42 | Astrasoft03339645 · Podgorica | 0.2% | 1,449,997€ | -4.4% | 134,004€ | 9.2% | 85 | 738€ |
| 43 | Riffdale Technologies03439135 · Podgorica | 0.2% | 1,443,002€ | +53.4% | 70,575€ | 4.9% | 93 | 1,058€ |
| 44 | SMP Montenegro02902010 · Podgorica | 0.2% | 1,425,752€ | +5.4% | -11,460€ | -0.8% | 1 | 1,197€ |
| 45 | Niss03000087 · Podgorica | 0.2% | 1,425,060€ | -51.1% | 85,436€ | 6.0% | 1 | 2,533€ |
| 46 | Datum Solutions03073572 · Podgorica | 0.2% | 1,393,891€ | +1.8% | 95,590€ | 6.9% | 24 | 3,969€ |
| 47 | Agencija za Audiovizuelne Medijske Usluge02386135 · Podgorica | 0.2% | 1,392,544€ | +2.8% | 180,824€ | 13.0% | 30 | 2,171€ |
| 48 | Mankrik03454517 · Budva | 0.2% | 1,381,904€ | -12.7% | 301,073€ | 21.8% | 16 | 3,908€ |
| 49 | Linux Development03421252 · Budva | 0.2% | 1,283,200€ | -36.0% | 1,457€ | 0.1% | 16 | 6,618€ |
| 50 | Trony Network02780089 · Kotor | 0.2% | 1,274,022€ | +32.6% | 244,587€ | 19.2% | 12 | 1,419€ |