Revenue
4.2% of sector revenue
77 companies earned 315.52m€ in 2025, 4.2% of Trade sector revenue. Revenue has grown 3.7× since 2015.
4.2% of sector revenue
2 with at most one employee
Largest employer: Montefarm (561)
Median company 2.5% · 79% 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
Ranked by total revenue · Showing 1–50 of 77
* 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 1 sole proprietor: 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 | 85,459,802€ | 56 |
| 2016 | 97,010,336€ | 60 |
| 2017 | 105,483,330€ | 62 |
| 2018 | 115,165,956€ | 62 |
| 2019 | 137,112,226€ | 59 |
| 2020 | 155,109,565€ | 59 |
| 2021 | 187,437,393€ | 65 |
| 2022 | 208,150,835€ | 65 |
| 2023 | 251,177,840€ | 69 |
| 2024 | 287,996,280€ | 79 |
| 2025 (Preliminary) | 315,517,396€ | 77 |
Employees and payroll cost per employee per month*
7.7% |
| 24,413,901€ |
| +4.9% |
| 1,318,228€ |
| 5.4% |
| 210 |
| 1,258€ |
| 3 | Vegapharm Mne02194007 · Podgorica | 5.4% | 17,120,523€ | +7.3% | 422,221€ | 2.5% | 176 | 1,141€ |
| 4 | Dama02877201 · Podgorica | 2.8% | 8,716,063€ | +39.3% | 716,111€ | 8.2% | 83 | 1,179€ |
| 5 | Meditas02198746 · Podgorica | 2.7% | 8,577,389€ | +5.0% | 1,035,584€ | 12.1% | 77 | 1,266€ |
| 6 | Medicor02196344 · Kotor | 1.8% | 5,806,162€ | +17.8% | 93,299€ | 1.6% | 37 | 1,752€ |
| 7 | Gvam Pharm02232189 · Nikšić | 1.6% | 5,132,875€ | +18.5% | 96,454€ | 1.9% | 29 | 1,382€ |
| 8 | Help02901137 · Podgorica | 1.3% | 4,115,369€ | -9.4% | 104,880€ | 2.5% | 47 | 1,121€ |
| 9 | Poen02629810 · Tivat | 1.0% | 3,043,520€ | -4.1% | 197,299€ | 6.5% | 12 | 1,331€ |
| 10 | Holos02208326 · Podgorica | 0.8% | 2,599,781€ | +6.2% | 155,252€ | 6.0% | 22 | 1,159€ |
| 11 | Pharmalife02878704 · Ulcinj | 0.8% | 2,521,474€ | -5.9% | 48,115€ | 1.9% | 35 | 1,011€ |
| 12 | Belladonna02383888 · Bar | 0.8% | 2,508,891€ | +19.0% | 139,970€ | 5.6% | 10 | 1,868€ |
| 13 | Primax02432668 · Berane | 0.8% | 2,379,646€ | +16.3% | 376,911€ | 15.8% | 10 | 1,315€ |
| 14 | Latković02204720 · Nikšić | 0.7% | 2,272,806€ | +18.3% | 127,453€ | 5.6% | 10 | 1,591€ |
| 15 | Lukić03030474 · Podgorica | 0.6% | 2,042,227€ | +13.2% | 99,959€ | 4.9% | 18 | 1,140€ |
| 16 | Prima S02061813 · Pljevlja | 0.6% | 1,874,386€ | +1.2% | 85,330€ | 4.6% | 8 | 827€ |
| 17 | Uniprom Pharm02903954 · Nikšić | 0.5% | 1,674,962€ | +15.0% | -327,269€ | -19.5% | 12 | 2,218€ |
| 18 | Lara Pharm03362558 · Rožaje | 0.5% | 1,525,272€ | +7.1% | 27,251€ | 1.8% | 11 | 1,124€ |
| 19 | Moja Apoteka03575969 · Podgorica | 0.5% | 1,522,430€ | +116.5% | 1,452€ | 0.1% | 20 | 1,270€ |
| 20 | Heba02433729 · Pljevlja | 0.5% | 1,477,171€ | +9.5% | 51,521€ | 3.5% | 7 | 1,974€ |
| 21 | Galenus02434946 · Berane | 0.5% | 1,477,066€ | +4.4% | 129,148€ | 8.7% | 7 | 1,207€ |
| 22 | Vigor02239205 · Nikšić | 0.5% | 1,436,998€ | +25.2% | 67,268€ | 4.7% | 6 | 1,920€ |
| 23 | Achillea02860023 · Herceg Novi | 0.4% | 1,274,462€ | +6.4% | 37,095€ | 2.9% | 6 | 1,994€ |
| 24 | Apoteka 36,602348306 · Podgorica | 0.4% | 1,226,965€ | +8.6% | 62,271€ | 5.1% | 7 | 994€ |
| 25 | Gradska Apoteka03592090 · Podgorica | 0.4% | 1,224,942€ | +25.6% | 36,872€ | 3.0% | 6 | 1,075€ |
| 26 | Delfipharm02654032 · Kolašin | 0.4% | 1,177,162€ | +12.3% | 25,160€ | 2.1% | 4 | 3,031€ |
| 27 | Aesculap02432579 · Kotor | 0.4% | 1,162,693€ | +2.6% | 94,058€ | 8.1% | 5 | 1,510€ |
| 28 | Cosmetics Specija03656152 · Podgorica | 0.4% | 1,130,899€ | +364.1% | 43,103€ | 3.8% | 11 | 1,774€ |
| 29 | Battista02364760 · Podgorica | 0.3% | 1,097,331€ | +24.8% | 239,772€ | 21.9% | 9 | 684€ |
| 30 | Popović02398150 · Budva | 0.3% | 1,089,508€ | +13.2% | -10,235€ | -0.9% | 7 | 1,696€ |
| 31 | Zdravlje03014517 · Podgorica | 0.3% | 1,078,254€ | +11.9% | 31,067€ | 2.9% | 10 | 1,324€ |
| 32 | DR Med Apoteka03658198 · Tuzi | 0.3% | 929,912€ | +318.8% | 1,460€ | 0.2% | 10 | 1,470€ |
| 33 | Vita Plus02902915 · Bijelo Polje | 0.3% | 924,901€ | +2.1% | 22,818€ | 2.5% | 6 | 1,291€ |
| 34 | Julija Farm02978571 · Podgorica | 0.3% | 861,658€ | +3.3% | 2,745€ | 0.3% | 8 | 1,061€ |
| 35 | Stanić02452669 · Bijelo Polje | 0.3% | 845,269€ | +3.7% | 46,194€ | 5.5% | 9 | 619€ |
| 36 | Stari Grad02923769 · Bar | 0.3% | 835,163€ | +9.5% | 23,887€ | 2.9% | 7 | 1,008€ |
| 37 | Milvita03552845 · Nikšić | 0.3% | 827,275€ | +67.4% | 64,643€ | 7.8% | 5 | 1,247€ |
| 38 | Kardović Pharm03079368 · Rožaje | 0.3% | 822,988€ | -1.9% | 42,478€ | 5.2% | 10 | 953€ |
| 39 | As Pharm02859050 · Zeta | 0.3% | 807,098€ | -0.2% | 859€ | 0.1% | 7 | 1,031€ |
| 40 | Iva Pharm02772256 · Bar | 0.3% | 795,773€ | -7.4% | -70,171€ | -8.8% | 10 | 1,551€ |
| 41 | Vita02262304 · Bijelo Polje | 0.3% | 789,377€ | +6.4% | 39,185€ | 5.0% | 5 | 1,665€ |
| 42 | Logos Pharm03427544 · Nikšić | 0.2% | 776,262€ | +27.9% | 24,099€ | 3.1% | 4 | 1,090€ |
| 43 | Apoteka-Med03367819 · Rožaje | 0.2% | 737,765€ | +13.7% | 11,579€ | 1.6% | 7 | 1,139€ |
| 44 | Diva Pharmacy03378322 · Bar | 0.2% | 733,666€ | +9.2% | 17,633€ | 2.4% | 7 | 940€ |
| 45 | Prima Pharm02689430 · Podgorica | 0.2% | 701,237€ | +11.1% | 6,179€ | 0.9% | 6 | 1,057€ |
| 46 | Milena i Mi02670216 · Nikšić | 0.2% | 661,205€ | -2.9% | 2,036€ | 0.3% | 10 | 466€ |
| 47 | Hygia02159783 · Bar | 0.2% | 644,115€ | +16.3% | 14,944€ | 2.3% | 4 | 1,064€ |
| 48 | Vitamin Plus02931494 · Bar | 0.2% | 627,873€ | +12.4% | 15,775€ | 2.5% | 8 | 737€ |
| 49 | Tiliafarm02104024 · Herceg Novi | 0.2% | 616,160€ | +1.1% | 21,732€ | 3.5% | 8 | 695€ |
| 50 | Althaea02278294 · Budva | 0.2% | 613,273€ | +1.9% | 15,219€ | 2.5% | 4 | 1,879€ |