Energy, water & waste companies in Montenegro ranked by revenue 2023. This 2023 ranking uses public financial statements and the published BizStats.me methodology and eligibility criteria.
Archived list for 2023, on the same criteria as the latest one. Latest list (2025)
Public financial statements processed by BizStats.me.
| # | Company | PIB | Share | |||
|---|---|---|---|---|---|---|
| 12022: rank 1 | Elektroprivreda Crne Gore Energy, water & waste · Nikšić | 02002230Income statement (PDF) | 499,283,091€ | -5.2% | 1,124 | 52.0% |
| 22022: rank 2 | Crnogorski Elektrodistributivni Sistem Energy, water & waste · Podgorica | 03099873Income statement (PDF) | 116,923,374€ | -3.6% | 1,721 | 12.2% |
| 32022: rank 3 | Crnogorski Elektroprenosni Sistem Energy, water & waste · Podgorica | 02751372Income statement (PDF) | 111,573,979€ | -7.6% | 324 | 11.6% |
| 42022: rank 4 | Krnovo Green Energy Energy, water & waste · Nikšić | 02713527Income statement (PDF) | 21,440,850€ | +4.4% | 1 | 2.2% |
| 52022: rank 5 | Terna Crna Gora Energy, water & waste · Podgorica | 02845237Income statement (PDF) | 15,843,677€ | +5.0% | 11 | 1.7% |
| 62022: rank 6 | Vodovod i Kanalizacija Energy, water & waste · Podgorica | 02015641Income statement (PDF) | 11,999,604€ | -14.0% | 568 | 1.3% |
| 72022: rank 7 | Mozura Wind Park Energy, water & waste · Podgorica | 02724391Income statement (PDF) | 11,770,789€ | -7.3% | 3 | 1.2% |
| 82022: rank 8 | Simes Inženjering Energy, water & waste · Podgorica | 02319977Income statement (PDF) | 9,952,153€ | -14.8% | 43 | 1.0% |
| 92022: rank 12 | Centar za Reciklažu Energy, water & waste · Nikšić | 02635879Income statement (PDF) | 9,939,047€ | +31.6% | 36 | 1.0% |
| 102022: rank 9 | Čistoća Energy, water & waste · Podgorica | 02407493Income statement (PDF) | 8,358,632€ | +0.4% | 641 | 0.9% |
| 112022: rank 10 | Vodovod i Kanalizacija Energy, water & waste · Budva | 02005573Income statement (PDF) | 8,298,529€ | +5.8% | 240 | 0.9% |
| 122022: rank 11 | Regionalni Vodovod Crnogorsko Primorje Energy, water & waste · Budva | 02090198Income statement (PDF) | 8,058,643€ | +4.2% | 76 | 0.8% |
| 132022: rank 21 | Hidroenergija Montenegro Energy, water & waste · Berane | 02665956Income statement (PDF) | 7,008,520€ | +66.6% | 7 | 0.7% |
| 142022: rank 15 | Komunalne Djelatnosti Energy, water & waste · Bar | 02002752Income statement (PDF) | 6,654,200€ | +22.6% | 326 | 0.7% |
| 152022: rank 14 | Deponija Energy, water & waste · Podgorica | 02653907Income statement (PDF) | 6,250,779€ | +1.4% | 190 | 0.7% |
| 162022: rank 16 | Vodovod i Kanalizacija Energy, water & waste · Herceg Novi | 02293196Income statement (PDF) | 5,876,638€ | +10.1% | 168 | 0.6% |
| 172022: rank 17 | Vodovod i Kanalizacija Energy, water & waste · Bar | 02054779Income statement (PDF) | 5,224,657€ | -0.8% | 171 | 0.5% |
| 182022: rank 23 | Vodovod i Kanalizacija Energy, water & waste · Nikšić | 02033143Income statement (PDF) | 5,088,973€ | +28.7% | 187 | 0.5% |
| 192022: rank 19 | Ve-Ro Recycling Energy, water & waste · Podgorica | 03022404Income statement (PDF) | 5,022,903€ | +15.3% | 1 | 0.5% |
| 202022: rank 22 | Komunalno Kotor Energy, water & waste · Kotor | 02013274Income statement (PDF) | 4,860,951€ | +18.1% | 180 | 0.5% |
| 212022: rank 20 | Vodovod i Kanalizacija Kotor Energy, water & waste · Kotor | 02013312Income statement (PDF) | 4,055,001€ | -4.1% | 100 | 0.4% |
| 222022: rank 25 | Čistoća Energy, water & waste · Herceg Novi | 02293200Income statement (PDF) | 3,911,140€ | +13.7% | 178 | 0.4% |
| 232022: rank 26 | Komunalno Energy, water & waste · Nikšić | 02000857Income statement (PDF) | 3,683,175€ | +15.6% | 160 | 0.4% |
| 242022: rank 27 | Komunalno Energy, water & waste · Tivat | 02295440Income statement (PDF) | 3,472,927€ | +12.9% | 171 | 0.4% |
| 252022: rank 28 | Komunalne Djelatnosti Energy, water & waste · Ulcinj | 02877538Income statement (PDF) | 3,318,924€ | +9.2% | 164 | 0.3% |
| 262022: rank 50 | Valgo Energy, water & waste · Podgorica | 03139263Income statement (PDF) | 3,313,830€ | +228.0% | 1 | 0.3% |
| 272022: rank 24 | Vodovod i Kanalizacija Energy, water & waste · Tivat | 02295407Income statement (PDF) | 3,302,926€ | -8.7% | 63 | 0.3% |
| 282022: rank 29 | Čistoća Energy, water & waste · Pljevlja | 02731657Income statement (PDF) | 3,102,296€ | +10.2% | 196 | 0.3% |
| 292022: rank 35 | Kronor Energy, water & waste · Podgorica | 02737752Income statement (PDF) | 2,652,069€ | +23.1% | 19 | 0.3% |
| 302022: rank 38 | Small Hydro Power Plant Mojanska Energy, water & waste · Andrijevica | 02999153Income statement (PDF) | 2,543,477€ | +43.7% | 8 | 0.3% |
| 312022: rank 36 | Zeta Energy Energy, water & waste · Danilovgrad | 02794624Income statement (PDF) | 2,515,106€ | +17.1% | 16 | 0.3% |
| 322022: rank 34 | PM Power Energy, water & waste · Tivat | 02790203Income statement (PDF) | 2,398,462€ | +7.4% | 4 | 0.2% |
| 33Not in the top 200 in 2022. | Sam Water Engineering Energy, water & waste · Herceg Novi | 03480712Income statement (PDF) | 2,294,111€ | No meaningful percentage: the 2022 or current value is zero, negative, unknown or unreliable. | 4 | 0.2% |
| 342022: rank 195 | Eft Montenegro Energy, water & waste · Herceg Novi | 03458300Income statement (PDF) | 2,278,226€ | No meaningful percentage: the 2022 or current value is zero, negative, unknown or unreliable. | 1 | 0.2% |
| 352022: rank 32 | Komunalno - Lim Energy, water & waste · Bijelo Polje | 02004003Income statement (PDF) | 2,253,426€ | -4.6% | 149 | 0.2% |
| 362022: rank 33 | Vodovod i Kanalizacija Energy, water & waste · Ulcinj | 02877449Income statement (PDF) | 2,204,499€ | -3.6% | 118 | 0.2% |
| 372022: rank 31 | Energogas Energy, water & waste · Podgorica | 02364735Income statement (PDF) | 2,175,960€ | -9.3% | 40 | 0.2% |
| 382022: rank 18 | Hemosan Energy, water & waste · Bar | 02160102Income statement (PDF) | 2,027,473€ | -55.3% | 37 | 0.2% |
| 392022: rank 30 | PD-33 Energy, water & waste · Podgorica | 03078884Income statement (PDF) | 1,994,604€ | -27.7% | 3 | 0.2% |
| 402022: rank 43 | Mhe Vrbnica Energy, water & waste · Podgorica | 03004856Income statement (PDF) | 1,956,478€ | +52.8% | 2 | 0.2% |
| 41Not in the top 200 in 2022. | Green Energy System Energy, water & waste · Podgorica | 03479226Income statement (PDF) | 1,951,925€ | No meaningful percentage: the 2022 or current value is zero, negative, unknown or unreliable. | 1 | 0.2% |
| 422022: rank 47 | Hydro Bistrica Energy, water & waste · Podgorica | 02998513Income statement (PDF) | 1,742,694€ | +48.8% | 8 | 0.2% |
| 432022: rank 39 | Možura Energy, water & waste · Bar | 02736381Income statement (PDF) | 1,731,747€ | +8.3% | 28 | 0.2% |
| 442022: rank 37 | Vodovod Energy, water & waste · Pljevlja | 02343762Income statement (PDF) | 1,701,426€ | -12.6% | 122 | 0.2% |
| 45Not in the top 200 in 2022. | LB Marina One Operations Energy, water & waste · Tivat | 03218155Income statement (PDF) | 1,496,721€ | No meaningful percentage: the 2022 or current value is zero, negative, unknown or unreliable. | 12 | 0.2% |
| 462022: rank 40 | Komunalno Energy, water & waste · Cetinje | 02004887Income statement (PDF) | 1,413,404€ | -11.2% | 65 | 0.1% |
| 472022: rank 41 | Vodovod i Kanalizacija Energy, water & waste · Danilovgrad | 02877864Income statement (PDF) | 1,412,646€ | -6.0% | 72 | 0.1% |
| 482022: rank 75 | Vigrad Montenegro Co Energy, water & waste · Podgorica | 02976650Income statement (PDF) | 1,394,572€ | +243.4% | 6 | 0.1% |
| 492022: rank 44 | Komunalno Energy, water & waste · Berane | 02361825Income statement (PDF) | 1,318,819€ | +3.1% | 143 | 0.1% |
| 502022: rank 54 | Otpadne Vode Energy, water & waste · Budva | 03304388Income statement (PDF) | 1,313,717€ | +49.1% | 29 | 0.1% |
Showing 1–50 · top 50 of 249 companies
This ranking contains 50 records for 2023, ordered by revenue after applying data-quality eligibility rules.
The leading record is ELEKTROPRIVREDA CRNE GORE AD-NIKŠIĆ; placement is determined by revenue, never by payment.
The source, coverage, minimum thresholds and ranking rules are documented in the public methodology. Methodology