Revenue
7.57b€2.5× since 2015
42.9% of Montenegro's revenue
Trade
7,526 companies earned 7.57b€ in 2025, 42.9% of all company revenue in Montenegro. It ranks 1 of 18 sectors by revenue. Revenue has grown 2.5× since 2015.
Nationwide · 2025
Year
Overview
Companies
7,526+3,466 since 2015
3,805 with at most one employee
Employees
46,851+76% since 2015
Largest employer: Idea - CG (2,426)
Profit margin
4.6%1.5 pts below average
Total profit: 350.30m€
This sector 4.6%Montenegro: 6.1%
Payroll cost/emp./mo*
1,139€8% below average
Average per employee, not per company
This sector 1,139€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 2,971,153,191€ | 4,060 |
| 2016 | 3,198,233,406€ | 4,290 |
| 2017 | 3,554,785,630€ | 4,582 |
| 2018 | 3,809,510,493€ | 5,123 |
| 2019 | 4,081,616,436€ | 5,434 |
| 2020 | 3,563,173,504€ | 5,695 |
| 2021 | 4,278,999,766€ | 5,984 |
| 2022 | 5,379,725,921€ | 6,611 |
| 2023 | 6,481,279,069€ | 7,470 |
| 2024 | 6,924,215,931€ | 7,746 |
| 2025 (Preliminary) | 7,568,788,891€ | 7,526 |
What changed in 2025
Growth is measured on the same companies, which filed for both years.
- Revenue, same companies (6,774)
- 6.89b€ → 7.49b€
- Employees, same companies
- 43,272 → 45,419
- Payroll cost per employee, same companies
- 1,041€ → 1,150€
- Filed for 2025, not for 2024
- 752 companies · 75.23m€
- Filed for 2024, not for 2025
- 972 companies, 31.33m€ in 2024
Activities in this sector
27.3%
- Companies
- 1,621
- Employees
- 11,749
- Revenue
- 2,064,616,617€
- Companies
- 1,090
- Employees
- 7,829
- Revenue
- 687,547,443€
- Companies
- 37
- Employees
- 670
- Revenue
- 532,721,646€
- Companies
- 313
- Employees
- 3,030
- Revenue
- 354,507,809€
- Companies
- 225
- Employees
- 774
- Revenue
- 352,508,117€
- Companies
- 88
- Employees
- 722
- Revenue
- 344,410,586€
- Companies
- 123
- Employees
- 1,549
- Revenue
- 337,169,966€
- Companies
- 77
- Employees
- 1,708
- Revenue
- 315,517,396€
2.5%
- Companies
- 87
- Employees
- 506
- Revenue
- 187,630,770€
- Companies
- 137
- Employees
- 913
- Revenue
- 175,139,407€
- Companies
- 113
- Employees
- 1,249
- Revenue
- 173,808,627€
- Companies
- 379
- Employees
- 1,933
- Revenue
- 147,190,572€
- Companies
- 53
- Employees
- 843
- Revenue
- 141,870,389€
- Companies
- 30
- Employees
- 319
- Revenue
- 125,894,196€
- Companies
- 88
- Employees
- 433
- Revenue
- 114,016,326€
73 more activities
1,514,239,024€ · 20.0%
Total
- Companies
- 7,526
- Employees
- 46,851
- Revenue
- 7,568,788,891€
Where they are and who is growing
Revenue by municipality
Share of the sector's revenue
- Podgorica 5.24b€69.3%
- Bar 291.17m€3.8%
- Nikšić 265.30m€3.5%
- Budva 232.11m€3.1%
- Zeta 200.48m€2.6%
- Kotor 190.67m€2.5%
- Tuzi 153.44m€2.0%
- Other municipalities (18) 969.93m€12.8%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- Volvox Materials&Construction6.26m€ → 33.25m€+431.4%
- Dongfang Electric International Corporation10.75m€ → 30.51m€+183.9%
- Integra2.18m€ → 4.73m€+117.1%
- Ravel1.47m€ → 3.02m€+105.8%
- Good Food1.76m€ → 3.35m€+89.8%
Largest employers
Employees and payroll cost per employee per month*
- 2,4261,094€
- 2,4061,143€
- 1,724961€
- 1,4401,139€
- 786878€
All companies (7,526)
Ranked by total revenue · Showing 1–50 of 7,526
- 1Voli Trade02227312 · PodgoricaRevenue share5.2%
- Revenue
- 390,143,159€
- Revenue change 2024→2025
- +5.8%
- Profit
- 16,066,500€
- Margin
- 4.1%
- Employees
- 2,406
- Payroll cost/emp./mo*
- 1,143€
- 2Hard Discount Laković02739500 · PodgoricaRevenue share3.9%
- Revenue
- 294,229,601€
- Revenue change 2024→2025
- +13.1%
- Profit
- 12,537,202€
- Margin
- 4.3%
- Employees
- 1,724
- Payroll cost/emp./mo*
- 961€
- 3Idea - CG02793962 · PodgoricaRevenue share3.6%
- Revenue
- 275,741,990€
- Revenue change 2024→2025
- -3.9%
- Profit
- 1,373,027€
- Margin
- 0.5%
- Employees
- 2,426
- Payroll cost/emp./mo*
- 1,094€
- 4Jugopetrol02013258 · PodgoricaRevenue share3.3%
- Revenue
- 251,470,488€
- Revenue change 2024→2025
- -2.2%
- Profit
- 9,370,773€
- Margin
- 3.7%
- Employees
- 107
- Payroll cost/emp./mo*
- 2,937€
- 5Montefarm02017105 · PodgoricaRevenue share2.4%
- Revenue
- 181,800,827€
- Revenue change 2024→2025
- +8.8%
- Profit
- 353,449€
- Margin
- 0.2%
- Employees
- 561
- Payroll cost/emp./mo*
- 1,380€
- 6Domaća Trgovina02440261 · PodgoricaRevenue share2.1%
- Revenue
- 161,367,790€
- Revenue change 2024→2025
- +16.2%
- Profit
- 4,103,964€
- Margin
- 2.5%
- Employees
- 1,440
- Payroll cost/emp./mo*
- 1,139€
- 7Glosarij02118912 · PodgoricaRevenue share2.1%
- Revenue
- 159,843,713€
- Revenue change 2024→2025
- +10.2%
- Profit
- 7,648,423€
- Margin
- 4.8%
- Employees
- 183
- Payroll cost/emp./mo*
- 1,986€
- 8Bar-Kod02289334 · PodgoricaRevenue share1.9%
- Revenue
- 145,278,300€
- Revenue change 2024→2025
- +14.0%
- Profit
- 4,326,327€
- Margin
- 3.0%
- Employees
- 441
- Payroll cost/emp./mo*
- 1,369€
- 9S Press +02983486 · PodgoricaRevenue share1.6%
- Revenue
- 117,421,904€
- Revenue change 2024→2025
- +17.5%
- Profit
- 843,075€
- Margin
- 0.7%
- Employees
- 201
- Payroll cost/emp./mo*
- 1,358€
- 10Ina - Crna Gora02305054 · PodgoricaRevenue share1.5%
- Revenue
- 113,646,187€
- Revenue change 2024→2025
- +18.2%
- Profit
- 1,003,995€
- Margin
- 0.9%
- Employees
- 142
- Payroll cost/emp./mo*
- 1,904€
- 11Plus03024938 · PodgoricaRevenue share1.4%
- Revenue
- 104,939,098€
- Revenue change 2024→2025
- +20.7%
- Profit
- 4,079,422€
- Margin
- 3.9%
- Employees
- 34
- Payroll cost/emp./mo*
- 2,765€
- 12Okov02226782 · PodgoricaRevenue share1.2%
- Revenue
- 87,842,560€
- Revenue change 2024→2025
- +11.1%
- Profit
- 12,932,593€
- Margin
- 14.7%
- Employees
- 559
- Payroll cost/emp./mo*
- 1,278€
- 13Kips02047403 · PodgoricaRevenue share1.1%
- Revenue
- 85,717,779€
- Revenue change 2024→2025
- -4.5%
- Profit
- 6,933,247€
- Margin
- 8.1%
- Employees
- 449
- Payroll cost/emp./mo*
- 1,234€
- 14Megapromet02365928 · BudvaRevenue share1.0%
- Revenue
- 72,840,843€
- Revenue change 2024→2025
- +35.7%
- Profit
- 1,988,222€
- Margin
- 2.7%
- Employees
- 402
- Payroll cost/emp./mo*
- 1,250€
- 15Nelt Mne02313707 · PodgoricaRevenue share0.9%
- Revenue
- 70,256,885€
- Revenue change 2024→2025
- +21.5%
- Profit
- 3,711,733€
- Margin
- 5.3%
- Employees
- 391
- Payroll cost/emp./mo*
- 1,534€
- 16Tehno Max02404281 · PodgoricaRevenue share0.9%
- Revenue
- 68,478,864€
- Revenue change 2024→2025
- +12.8%
- Profit
- 4,561,050€
- Margin
- 6.7%
- Employees
- 291
- Payroll cost/emp./mo*
- 1,147€
- 17Stadion02077698 · PodgoricaRevenue share0.9%
- Revenue
- 68,415,578€
- Revenue change 2024→2025
- +3.0%
- Profit
- 1,552,303€
- Margin
- 2.3%
- Employees
- 224
- Payroll cost/emp./mo*
- 1,535€
- 18Tobacco S Press02983303 · PodgoricaRevenue share0.9%
- Revenue
- 67,196,360€
- Revenue change 2024→2025
- +0.5%
- Profit
- 324,483€
- Margin
- 0.5%
- Employees
- 786
- Payroll cost/emp./mo*
- 878€
- 19Farmegra02281864 · PodgoricaRevenue share0.9%
- Revenue
- 66,253,183€
- Revenue change 2024→2025
- +3.2%
- Profit
- 2,943,314€
- Margin
- 4.4%
- Employees
- 90
- Payroll cost/emp./mo*
- 1,645€
- 20DMD Delta02329115 · PodgoricaRevenue share0.8%
- Revenue
- 58,884,454€
- Revenue change 2024→2025
- +7.1%
- Profit
- 2,450,066€
- Margin
- 4.2%
- Employees
- 75
- Payroll cost/emp./mo*
- 2,045€
- 21Hifa Oil CG03136981 · ZetaRevenue share0.8%
- Revenue
- 57,428,372€
- Revenue change 2024→2025
- +17.7%
- Profit
- 1,317,780€
- Margin
- 2.3%
- Employees
- 105
- Payroll cost/emp./mo*
- 1,256€
- 22Petrol Crna Gora Mne02675889 · PodgoricaRevenue share0.7%
- Revenue
- 53,977,345€
- Revenue change 2024→2025
- -8.5%
- Profit
- 1,635,483€
- Margin
- 3.0%
- Employees
- 152
- Payroll cost/emp./mo*
- 1,136€
- 23Coca-Cola Hellenic Bottling Company-Crna Gora02303213 · PodgoricaRevenue share0.7%
- Revenue
- 52,952,440€
- Revenue change 2024→2025
- +6.1%
- Profit
- 877,616€
- Margin
- 1.7%
- Employees
- 24
- Payroll cost/emp./mo*
- 2,769€
- 24MPM02047861 · PodgoricaRevenue share0.7%
- Revenue
- 52,629,879€
- Revenue change 2024→2025
- +11.5%
- Profit
- 2,207,919€
- Margin
- 4.2%
- Employees
- 434
- Payroll cost/emp./mo*
- 1,550€
- 25Lukoil Montenegro02630419 · PodgoricaRevenue share0.6%
- Revenue
- 46,406,987€
- Revenue change 2024→2025
- -2.8%
- Profit
- 1,956,115€
- Margin
- 4.2%
- Employees
- 109
- Payroll cost/emp./mo*
- 1,361€
- 26Tabacco Shop02378299 · PodgoricaRevenue share0.6%
- Revenue
- 45,959,755€
- Revenue change 2024→2025
- +20.1%
- Profit
- 922,485€
- Margin
- 2.0%
- Employees
- 542
- Payroll cost/emp./mo*
- 819€
- 27Sport Vision03187608 · PodgoricaRevenue share0.5%
- Revenue
- 40,206,482€
- Revenue change 2024→2025
- +13.4%
- Profit
- 5,753,083€
- Margin
- 14.3%
- Employees
- 333
- Payroll cost/emp./mo*
- 1,266€
- 28Vcag03237656 · PodgoricaRevenue share0.5%
- Revenue
- 40,103,222€
- Revenue change 2024→2025
- -3.5%
- Profit
- 3,676,072€
- Margin
- 9.2%
- Employees
- 2
- Payroll cost/emp./mo*
- 804€
- 29Inditex Montenegro02697904 · PodgoricaRevenue share0.5%
- Revenue
- 39,935,102€
- Revenue change 2024→2025
- +6.4%
- Profit
- 2,701,409€
- Margin
- 6.8%
- Employees
- 184
- Payroll cost/emp./mo*
- 884€
- 30Expo Commerce02280612 · KotorRevenue share0.5%
- Revenue
- 38,034,215€
- Revenue change 2024→2025
- +5.1%
- Profit
- 2,832,686€
- Margin
- 7.4%
- Employees
- 210
- Payroll cost/emp./mo*
- 1,639€
- 31Xenergy02766515 · PodgoricaRevenue share0.5%
- Revenue
- 37,446,256€
- Revenue change 2024→2025
- -28.6%
- Profit
- 3,447,492€
- Margin
- 9.2%
- Employees
- 46
- Payroll cost/emp./mo*
- 2,366€
- 32Cerovo02069814 · BarRevenue share0.5%
- Revenue
- 36,996,624€
- Revenue change 2024→2025
- +8.1%
- Profit
- 914,760€
- Margin
- 2.5%
- Employees
- 226
- Payroll cost/emp./mo*
- 1,336€
- 33Škorpion02083442 · Herceg NoviRevenue share0.5%
- Revenue
- 36,864,784€
- Revenue change 2024→2025
- +5.0%
- Profit
- 1,950,062€
- Margin
- 5.3%
- Employees
- 103
- Payroll cost/emp./mo*
- 1,652€
- 34Kmag,kia Motors Adria Group02745747 · PodgoricaRevenue share0.5%
- Revenue
- 35,334,771€
- Revenue change 2024→2025
- -13.9%
- Profit
- 587,248€
- Margin
- 1.7%
- Employees
- 2
- Payroll cost/emp./mo*
- 767€
- 35Volvox Materials&Construction03689697 · PodgoricaRevenue share0.4%
- Revenue
- 33,249,885€
- Revenue change 2024→2025
- +431.4%
- Profit
- 1,658,677€
- Margin
- 5.0%
- Employees
- 66
- Payroll cost/emp./mo*
- 1,828€
- 36Rokšped Auto Centar02976820 · PodgoricaRevenue share0.4%
- Revenue
- 32,849,241€
- Revenue change 2024→2025
- +3.9%
- Profit
- 801,786€
- Margin
- 2.4%
- Employees
- 51
- Payroll cost/emp./mo*
- 2,166€
- 37Comtrade Distribution02297248 · PodgoricaRevenue share0.4%
- Revenue
- 32,110,026€
- Revenue change 2024→2025
- -3.8%
- Profit
- 1,430,781€
- Margin
- 4.5%
- Employees
- 29
- Payroll cost/emp./mo*
- 3,413€
- 38Next Auto02861194 · DanilovgradRevenue share0.4%
- Revenue
- 31,407,415€
- Revenue change 2024→2025
- +33.9%
- Profit
- 2,562,304€
- Margin
- 8.2%
- Employees
- 227
- Payroll cost/emp./mo*
- 1,490€
- 39Fashion Company02456907 · PodgoricaRevenue share0.4%
- Revenue
- 30,672,383€
- Revenue change 2024→2025
- +19.2%
- Profit
- 4,874,613€
- Margin
- 15.9%
- Employees
- 150
- Payroll cost/emp./mo*
- 1,085€
- 40Dongfang Electric International Corporation03318206 · PljevljaRevenue share0.4%
- Revenue
- 30,511,379€
- Revenue change 2024→2025
- +183.9%
- Profit
- -429,330€
- Margin
- -1.4%
- Employees
- 8
- Payroll cost/emp./mo*
- 2,419€
- 41Efel Motors02377241 · CetinjeRevenue share0.4%
- Revenue
- 29,883,442€
- Revenue change 2024→2025
- +30.5%
- Profit
- 1,124,740€
- Margin
- 3.8%
- Employees
- 55
- Payroll cost/emp./mo*
- 1,267€
- 42Donator02129183 · TuziRevenue share0.4%
- Revenue
- 29,740,798€
- Revenue change 2024→2025
- +7.0%
- Profit
- 1,692,551€
- Margin
- 5.7%
- Employees
- 339
- Payroll cost/emp./mo*
- 1,039€
- 43Kalamper02100762 · BarRevenue share0.4%
- Revenue
- 29,656,414€
- Revenue change 2024→2025
- +6.9%
- Profit
- 1,894,389€
- Margin
- 6.4%
- Employees
- 167
- Payroll cost/emp./mo*
- 969€
- 44Cungu & Co02256134 · UlcinjRevenue share0.4%
- Revenue
- 28,354,457€
- Revenue change 2024→2025
- +15.0%
- Profit
- 3,723,152€
- Margin
- 13.1%
- Employees
- 289
- Payroll cost/emp./mo*
- 1,109€
- 45Ataco - Trgovina i Zastupanja02672642 · DanilovgradRevenue share0.4%
- Revenue
- 27,563,737€
- Revenue change 2024→2025
- +9.1%
- Profit
- 878,198€
- Margin
- 3.2%
- Employees
- 105
- Payroll cost/emp./mo*
- 1,497€
- 46Klikovac02191601 · PodgoricaRevenue share0.4%
- Revenue
- 27,220,292€
- Revenue change 2024→2025
- +7.4%
- Profit
- 675,030€
- Margin
- 2.5%
- Employees
- 125
- Payroll cost/emp./mo*
- 1,019€
- 47Cemex Montenegro02270803 · PodgoricaRevenue share0.4%
- Revenue
- 26,684,935€
- Revenue change 2024→2025
- +10.2%
- Profit
- 792,148€
- Margin
- 3.0%
- Employees
- 8
- Payroll cost/emp./mo*
- 3,247€
- 48Alliance02165473 · PodgoricaRevenue share0.3%
- Revenue
- 26,284,174€
- Revenue change 2024→2025
- +17.5%
- Profit
- 510,589€
- Margin
- 1.9%
- Employees
- 82
- Payroll cost/emp./mo*
- 1,909€
- 49TCK Montenegro02655373 · PodgoricaRevenue share0.3%
- Revenue
- 26,206,957€
- Revenue change 2024→2025
- +6.2%
- Profit
- 633,327€
- Margin
- 2.4%
- Employees
- 1
- Payroll cost/emp./mo*
- 718€
- 50Ledo02126265 · PodgoricaRevenue share0.3%
- Revenue
- 26,047,566€
- Revenue change 2024→2025
- No filing for 2024.
- Profit
- 1,330,063€
- Margin
- 5.1%
- Employees
- 114
- Payroll cost/emp./mo*
- 3,594€
* 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 294 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
Trade companies in Montenegro ranked by revenue 2025 →
Source: Tax Administration / CRPSCurrency: EUR