Revenue
1.2% of sector revenue
133 companies earned 10.98m€ in 2025, 1.2% of Transport & logistics sector revenue. Revenue has grown 13.4× since 2015.
1.2% of sector revenue
82 with at most one employee
Largest employer: Montenegro Submarine (25)
Median company -13.2% · 30% 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
Employees and payroll cost per employee per month*
Ranked by total revenue · Showing 51–100 of 133
* 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 6 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. 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 | 822,024€ | 23 |
| 2016 | 1,052,520€ | 26 |
| 2017 | 2,016,891€ | 30 |
| 2018 | 2,851,453€ | 34 |
| 2019 | 3,673,247€ | 44 |
| 2020 | 1,602,162€ | 53 |
| 2021 | 2,494,659€ | 57 |
| 2022 | 5,754,378€ | 72 |
| 2023 | 7,115,055€ | 93 |
| 2024 | 8,135,724€ | 113 |
| 2025 (Preliminary) | 10,982,187€ | 133 |
The number of companies jumped most in 2023: from 72 to 93.
0.2% |
| 24,618€ |
| +60.7% |
| -3,323€ |
| -13.5% |
| 1 |
| — |
| 53 | Boka Bliss03630021 · Kotor | 0.2% | 22,333€ | +107.9% | -17,638€ | -79.0% | 2 | — |
| 54 | Boka Dream03750914 · Budva | 0.2% | 22,270€ | No filing for 2024. | 4,876€ | 21.9% | 1 | 430€ |
| 55 | Golden Shark03489132 · Tivat | 0.2% | 21,006€ | -60.5% | -21,522€ | -102.5% | 1 | 1,095€ |
| 56 | Montenegro Sailing03036774 · Kotor | 0.2% | 19,119€ | -33.6% | -5,059€ | -26.5% | 1 | 678€ |
| 57 | Batuta03044297 · Kotor | 0.2% | 18,732€ | -24.6% | -3,465€ | -18.5% | 3 | 454€ |
| 58 | Boka Boats03109984 · Tivat | 0.2% | 18,390€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -2,936€ | -16.0% | 1 | — |
| 59 | Cupara03415155 · Tivat | 0.2% | 18,193€ | +25.5% | 1,466€ | 8.1% | 1 | 391€ |
| 60 | Kaptain Jan03405117 · Tivat | 0.2% | 18,029€ | -20.6% | -2,757€ | -15.3% | 1 | 678€ |
| 61 | Rabbit's Company02704765 · Herceg Novi | 0.1% | 15,857€ | -76.4% | -14,170€ | -89.4% | 1 | 846€ |
| 62 | Cone Boat03642895 · Kotor | 0.1% | 14,985€ | +12.0% | 413€ | 2.8% | 1 | 339€ |
| 63 | Montenegrowaves03613402 · Podgorica | 0.1% | 14,451€ | +35.5% | -49,304€ | -341.2% | 3 | — |
| 64 | Horošo02711516 · Budva | 0.1% | 14,209€ | -39.6% | -19,214€ | -135.2% | 2 | 835€ |
| 65 | B2-Excursion03752593 · Kotor | 0.1% | 12,960€ | No filing for 2024. | 3,860€ | 29.8% | 1 | — |
| 66 | Adriatic Trails & Beyond03708039 · Tivat | 0.1% | 11,175€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -74,895€ | -670.2% | 1 | 5,063€ |
| 67 | MSD Adriatic03282759 · Kotor | <0.1% | 10,366€ | +145.0% | -4,101€ | -39.6% | 2 | 431€ |
| 68 | Grand Turizmo02921081 · Budva | <0.1% | 10,135€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -16,889€ | -166.6% | 1 | 677€ |
| 69 | Sea Wolf Montenegro03706770 · Budva | <0.1% | 10,000€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -978€ | -9.8% | 1 | 678€ |
| 70 | Mija Corp03323722 · Kotor | <0.1% | 9,909€ | +139.9% | -10,601€ | -107.0% | 2 | 677€ |
| 71 | Barbarosa Boats03431827 · Herceg Novi | <0.1% | 8,670€ | +14.9% | -3,636€ | -41.9% | 1 | 704€ |
| 72 | Skling03548392 · Herceg Novi | <0.1% | 8,177€ | +808.6% | -7,906€ | -96.7% | 1 | 680€ |
| 73 | Global Rent Cuce03115925 · Kotor | <0.1% | 7,270€ | -31.7% | -6,579€ | -90.5% | 2 | 560€ |
| 74 | Seabreeze03085490 · Tivat | <0.1% | 6,870€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -7,595€ | -110.6% | 1 | 1,162€ |
| 75 | Lord Kotor03635686 · Kotor | <0.1% | 6,805€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -15,384€ | -226.1% | 3 | 528€ |
| 76 | Sea Charter Company03653200 · Tivat | <0.1% | 6,505€ | +44.4% | -8,430€ | -129.6% | 1 | 340€ |
| 77 | Barchetta Blu Yacht Rentals03546543 · Tivat | <0.1% | 5,587€ | -81.7% | -26,254€ | -469.9% | 2 | 713€ |
| 78 | Boat2enjoy03672654 · Kotor | <0.1% | 4,900€ | +248.8% | -14,472€ | -295.3% | 2 | 677€ |
| 79 | Orleansky Adventure03697525 · Budva | <0.1% | 4,690€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -15,995€ | -341.0% | 1 | 1,711€ |
| 80 | Black Wind Sailing02917467 · Kotor | <0.1% | 4,132€ | +0.8% | -30,204€ | -731.0% | 1 | 677€ |
| 81 | Botanikos Mne03360431 · Budva | <0.1% | 3,982€ | +6.2% | -17,809€ | -447.2% | 2 | 465€ |
| 82 | Big Blue Cattaro03616355 · Cetinje | <0.1% | 3,663€ | -53.7% | -31,618€ | -863.2% | 1 | 580€ |
| 83 | Blue Barracuda03285022 · Kotor | <0.1% | 3,551€ | -66.8% | -22,003€ | -619.6% | 2 | 675€ |
| 84 | Pelagos03734358 · Herceg Novi | <0.1% | 2,900€ | No filing for 2024. | -18,426€ | -635.4% | 3 | 573€ |
| 85 | Bura Boat Tours03784991 · Kotor | <0.1% | 2,300€ | No filing for 2024. | 610€ | 26.5% | 1 | — |
| 86 | Adventure-Float Montenegro03759075 · Herceg Novi | <0.1% | 1,865€ | No filing for 2024. | 254€ | 13.6% | 1 | — |
| 87 | Robert Maritime03305252 · Tivat | <0.1% | 1,587€ | -80.0% | -21,235€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 926€ |
| 88 | Sun Rays03524906 · Kotor | <0.1% | 1,363€ | +102.5% | -4,647€ | -340.9% | 1 | 358€ |
| 89 | Perun SSP03754553 · Herceg Novi | <0.1% | 1,327€ | No filing for 2024. | -7€ | -0.5% | 1 | — |
| 90 | Dude03600513 · Tivat | <0.1% | 1,308€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -21,137€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 675€ |
| 91 | Bokacharms03700160 · Herceg Novi | <0.1% | 1,127€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -460€ | -40.8% | 1 | — |
| 92 | Hudiček03735524 · Kotor | <0.1% | 1,002€ | No filing for 2024. | -6,885€ | -687.1% | 1 | 581€ |
| 93 | Kross Unlimited03733815 · Kotor | <0.1% | 561€ | No filing for 2024. | -7,503€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 435€ |
| 94 | Navy Blue03560970 · Tivat | <0.1% | 21€ | -99.9% | -2,355€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | — |
| 95 | 3a1nil03668339 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -10,756€ | — | 1 | 851€ |
| 96 | Adel Marine03718107 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -5,161€ | — | 1 | 367€ |
| 97 | Alp Marine03594874 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,778€ | — | 1 | 929€ |
| 98 | Asteria Construction Yachting SRL03433714 · Budva | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -11,087€ | — | 1 | 924€ |
| 99 | Azimut Enterprise03808602 · Kotor | 0.0% | 0€ | No filing for 2024. | -639€ | — | 0 | — |
| 100 | Beau West03178340 · Herceg Novi | 0.0% | 0€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 0€ | — | — | — |