Revenue
36.1% of sector revenue
1,822 companies earned 462.55m€ in 2025, 36.1% of Hospitality sector revenue. Revenue has grown 6.0× since 2015.
36.1% of sector revenue
551 with at most one employee
Largest employer: Panevivo (286)
Median company 1.1% · 45% 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 51–100 of 1,822
* 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 174 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 | 76,589,621€ | 661 |
| 2016 | 90,691,225€ | 770 |
| 2017 | 110,033,852€ | 886 |
| 2018 | 117,046,919€ | 1,003 |
| 2019 | 139,481,699€ | 1,111 |
| 2020 | 87,527,626€ | 1,217 |
| 2021 | 178,116,236€ | 1,326 |
| 2022 | 278,132,866€ | 1,495 |
| 2023 | 365,111,481€ | 1,723 |
| 2024 | 406,911,791€ | 1,840 |
| 2025 (Preliminary) | 462,546,922€ | 1,822 |
Employees and payroll cost per employee per month*
0.3% |
| 1,377,164€ |
| -1.3% |
| 83,051€ |
| 6.0% |
| 26 |
| 1,461€ |
| 53 | KM Comerce02873222 · Budva | 0.3% | 1,367,149€ | +1.6% | 404,459€ | 29.6% | 20 | 821€ |
| 54 | SVK03463443 · Budva | 0.3% | 1,359,951€ | +277.8% | 351,571€ | 25.9% | 38 | 828€ |
| 55 | Kastel Plus02814099 · Nikšić | 0.3% | 1,329,880€ | +11.1% | 54,440€ | 4.1% | 20 | 1,326€ |
| 56 | Morski Talas03158888 · Budva | 0.3% | 1,302,791€ | -7.0% | 243,281€ | 18.7% | 22 | 1,063€ |
| 57 | Altaur03360822 · Bar | 0.3% | 1,281,692€ | +10.8% | 32,660€ | 2.5% | 32 | 996€ |
| 58 | Nikol Montenegro03115291 · Kotor | 0.3% | 1,258,782€ | +31.9% | 217,486€ | 17.3% | 18 | 1,545€ |
| 59 | Shanghai02914859 · Budva | 0.3% | 1,256,566€ | -11.2% | 48,877€ | 3.9% | 21 | 2,060€ |
| 60 | Ice Cool03287262 · Kotor | 0.3% | 1,254,412€ | +21.1% | 348,838€ | 27.8% | 16 | 2,209€ |
| 61 | Itag Novi03603296 · Herceg Novi | 0.3% | 1,253,180€ | -2.6% | 210,258€ | 16.8% | 32 | 1,179€ |
| 62 | Center03178919 · Podgorica | 0.3% | 1,247,117€ | +49.0% | 34,208€ | 2.7% | 5 | 1,395€ |
| 63 | Mornar Group03167160 · Bar | 0.3% | 1,220,958€ | +120.1% | 162,500€ | 13.3% | 12 | 807€ |
| 64 | Larry & Brother's Company02057760 · Kotor | 0.3% | 1,219,526€ | +23.6% | 242,174€ | 19.9% | 22 | 1,460€ |
| 65 | La Miniera03335747 · Kotor | 0.3% | 1,219,279€ | -28.1% | -462,729€ | -38.0% | 27 | 2,002€ |
| 66 | Cabo03086208 · Ulcinj | 0.3% | 1,213,974€ | +2.9% | 37,160€ | 3.1% | 10 | 1,091€ |
| 67 | Lu Monte02305666 · Bijelo Polje | 0.3% | 1,188,734€ | +6.6% | 68,428€ | 5.8% | 35 | 945€ |
| 68 | Lemiko-Impex02235374 · Ulcinj | 0.3% | 1,175,833€ | +1.4% | 72,963€ | 6.2% | 29 | 1,137€ |
| 69 | Unikop Omnia03166180 · Budva | 0.2% | 1,091,452€ | +10.6% | -61,184€ | -5.6% | 10 | 4,205€ |
| 70 | Cinema Plus03084094 · Budva | 0.2% | 1,088,957€ | +36.4% | 3,038€ | 0.3% | 25 | 704€ |
| 71 | Ansas Trade02175347 · Podgorica | 0.2% | 1,088,197€ | +8.4% | 34,117€ | 3.1% | 35 | 734€ |
| 72 | Catering Park03479803 · Budva | 0.2% | 1,079,745€ | +10.1% | 236,487€ | 21.9% | 22 | 1,056€ |
| 73 | Netto - Prom02347555 · Podgorica | 0.2% | 1,078,915€ | +19.6% | 243,368€ | 22.6% | 14 | 1,109€ |
| 74 | Hills Beach03260011 · Ulcinj | 0.2% | 1,077,836€ | -5.2% | 388,436€ | 36.0% | 9 | 505€ |
| 75 | Jakšić03279812 · Kotor | 0.2% | 1,070,701€ | +5.5% | 133,148€ | 12.4% | 21 | 956€ |
| 76 | Piastra02658542 · Kotor | 0.2% | 1,062,610€ | +38.0% | 152,662€ | 14.4% | 25 | 603€ |
| 77 | PR Food Group03350797 · Podgorica | 0.2% | 1,062,459€ | +77.5% | 23,868€ | 2.2% | 10 | 811€ |
| 78 | Dva Kapetana03347583 · Budva | 0.2% | 1,053,988€ | -2.1% | -15,361€ | -1.5% | 29 | 1,156€ |
| 79 | Lingu02463407 · Kotor | 0.2% | 1,041,894€ | +10.0% | 30,966€ | 3.0% | 22 | 914€ |
| 80 | GS Company02891778 · Podgorica | 0.2% | 1,036,997€ | +1.3% | 73,389€ | 7.1% | 30 | 723€ |
| 81 | Kupo&Toko03303985 · Ulcinj | 0.2% | 1,036,698€ | -21.2% | 102,684€ | 9.9% | 9 | 1,182€ |
| 82 | Pod Bedem03246850 · Bar | 0.2% | 1,035,923€ | +3.3% | 115,991€ | 11.2% | 17 | 1,573€ |
| 83 | Banfi02082586 · Kotor | 0.2% | 1,034,216€ | -8.8% | 56,396€ | 5.5% | 15 | 1,774€ |
| 84 | Agro Sistem Ana02911035 · Nikšić | 0.2% | 1,033,783€ | +123.9% | 190,184€ | 18.4% | 32 | 537€ |
| 85 | Niagara02437031 · Tuzi | 0.2% | 1,028,887€ | -8.3% | 85,832€ | 8.3% | 18 | 674€ |
| 86 | F&B Group03310523 · Podgorica | 0.2% | 1,019,981€ | +11.0% | 92,210€ | 9.0% | 13 | 1,641€ |
| 87 | Piatto03353460 · Nikšić | 0.2% | 1,017,429€ | +34.6% | 96,712€ | 9.5% | 23 | 943€ |
| 88 | Mela & Rona03092160 · Ulcinj | 0.2% | 1,012,216€ | +48.1% | 318,096€ | 31.4% | 11 | 1,050€ |
| 89 | The Temperance Group03323439 · Podgorica | 0.2% | 1,009,615€ | -9.6% | 5,478€ | 0.5% | 27 | 1,264€ |
| 90 | GP Group03719685 · Budva | 0.2% | 1,003,028€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 4,608€ | 0.5% | 6 | 5,558€ |
| 91 | Ambiente Group03355179 · Budva | 0.2% | 992,948€ | +26.8% | 36,537€ | 3.7% | 2 | 9,533€ |
| 92 | Zene & Co03394964 · Ulcinj | 0.2% | 988,103€ | +6.4% | 166,068€ | 16.8% | 14 | 886€ |
| 93 | Little Bay03347630 · Kotor | 0.2% | 969,554€ | +31.0% | 217,759€ | 22.5% | 3 | 393€ |
| 94 | Plaža Perla03227944 · Herceg Novi | 0.2% | 965,241€ | +36.4% | -16,850€ | -1.7% | 23 | 1,342€ |
| 95 | Žuti Zec03656012 · Podgorica | 0.2% | 964,040€ | +187.8% | 71,409€ | 7.4% | 18 | 1,591€ |
| 96 | Kosmos Kod03393542 · Podgorica | 0.2% | 949,225€ | +27.9% | -14,243€ | -1.5% | 15 | 1,546€ |
| 97 | Arapović Company02322544 · Herceg Novi | 0.2% | 943,223€ | +21.8% | 173,062€ | 18.3% | 18 | 1,103€ |
| 98 | Monte Vista03037215 · Cetinje | 0.2% | 933,383€ | -6.4% | 51,455€ | 5.5% | 15 | 2,050€ |
| 99 | Wanda03294684 · Podgorica | 0.2% | 924,990€ | +5.9% | 98,840€ | 10.7% | 14 | 1,193€ |
| 100 | Meat & Wine03119122 · Kotor | 0.2% | 924,639€ | No filing for 2024. | 228,667€ | 24.7% | 7 | 1,635€ |