Montenegro companies ranked by average monthly payroll cost per employee 2022. This 2022 ranking uses public financial statements and the published BizStats.me methodology and eligibility criteria. Only companies with at least 10 employees are ranked.
Archived list for 2022, on the same criteria as the latest one. Latest list (2025)
Public financial statements processed by BizStats.me.
| # | Company | PIB | ||||
|---|---|---|---|---|---|---|
| 1No filing for 2021. | Linux Development Technology · Budva | 03421252Income statement (PDF) | 5,482€ | No filing for 2021. | 1,390,580€ | 21 |
| 22021: rank 2 | Barska Plovidba Transport & logistics · Bar | 02324784Income statement (PDF) | 5,293€ | +24.4% | 16,586,890€ | 34 |
| 3No filing for 2021. | Assaia Development Trade · Podgorica | 03414329Income statement (PDF) | 4,859€ | No filing for 2021. | 1,370,179€ | 24 |
| 42021: rank 6 | Kontrola Letenja Srbije i Crne Gore Smatsa D.O.O.,beograd Transport & logistics · Podgorica | 02627744Income statement (PDF) | 4,811€ | +28.5% | 6,727,312€ | 102 |
| 52021: rank 4 | Azmont Investments Real estate · Herceg Novi | 02893126Income statement (PDF) | 4,714€ | No meaningful percentage: the 2021 or current value is zero, negative, unknown or unreliable. | 34,673,009€ | 26 |
| 62021: rank 1 | China Road & Bridge Corporation Construction · Podgorica | 03016480Income statement (PDF) | 4,512€ | -2.9% | 45,387,612€ | 312 |
| 7No filing for 2021. | Arctic 7 Technology · Podgorica | 03442586Income statement (PDF) | 4,322€ | No filing for 2021. | 1,271,447€ | 22 |
| 8Not in the top 200 in 2021. | Ooblee Technology · Podgorica | 03216446Income statement (PDF) | 4,011€ | -49.4% | 265,831€ | 13 |
| 92021: rank 9 | Luštica Development Hospitality · Tivat | 02744597Income statement (PDF) | 3,638€ | +3.6% | 36,112,637€ | 82 |
| 102021: rank 10 | N.V.Besix S.A. Montenegro Construction · Tivat | 02945371Income statement (PDF) | 3,578€ | +9.3% | 15,810,458€ | 20 |
| 11Not in the top 200 in 2021. | Hoffmann - La Roche LTD Professional services · Podgorica | 02639408Income statement (PDF) | 3,489€ | -10.8% | 959,606€ | 10 |
| 12Not in the top 200 in 2021. | Epam Systems Montenegro Technology · Podgorica | 03381447Income statement (PDF) | 3,488€ | No meaningful percentage: the 2021 or current value is zero, negative, unknown or unreliable. | 11,227,494€ | 228 |
| 132021: rank 73 | Vektra Boka Hospitality · Herceg Novi | 02008238Income statement (PDF) | 3,440€ | +75.6% | 1,688,824€ | 16 |
| 14No filing for 2021. | Artec 3D Adriatica Technology · Bar | 03413381Income statement (PDF) | 3,386€ | No filing for 2021. | 2,829,488€ | 49 |
| 15Not in the top 200 in 2021. | Građevinarstvo i Savjetovanje Construction · Podgorica | 02729571Income statement (PDF) | 3,219€ | +278.7% | 2,269,000€ | 10 |
| 162021: rank 12 | Datum Solutions Technology · Podgorica | 03073572Income statement (PDF) | 3,179€ | +6.4% | 1,225,936€ | 32 |
| 172021: rank 32 | Evropa Lek Pharma Professional services · Podgorica | 02773945Income statement (PDF) | 3,151€ | +29.3% | 1,272,205€ | 10 |
| 182021: rank 20 | Fakultet za Poslovnu Ekonomiju i Pravo Education · Bar | 02742969Income statement (PDF) | 3,037€ | +17.7% | 606,723€ | 10 |
| 192021: rank 14 | B & G Trans Društvo za Prevoz, Trgovinu i Usluge Transport & logistics · Nikšić | 02394693Income statement (PDF) | 3,036€ | +9.8% | 1,293,322€ | 11 |
| 202021: rank 62 | Brskovo Mine Mining · Podgorica | 02770440Income statement (PDF) | — | No meaningful percentage: the 2021 or current value is zero, negative, unknown or unreliable. | 854€ | 22 |
| 21Not in the top 200 in 2021. | Quantox Technology Technology · Podgorica | 03373398Income statement (PDF) | 2,966€ | +243.7% | 527,706€ | 12 |
| 222021: rank 7 | Institut za Razvoj i Istraživanja u Oblasti Zaštite na Radu-Podgorica Professional services · Podgorica | 02333643Income statement (PDF) | 2,920€ | -21.1% | 827,634€ | 21 |
| 23Not in the top 200 in 2021. | Infinum Montenegro Technology · Podgorica | 03360962Income statement (PDF) | 2,905€ | +133.0% | 670,042€ | 14 |
| 242021: rank 110 | Navar Incorporated Manufacturing · Tivat | 02346303Income statement (PDF) | 2,890€ | +73.0% | 3,868,055€ | 32 |
| 252021: rank 41 | Teknoxgroup Crna Gora Trade · Danilovgrad | 02312450Income statement (PDF) | 2,801€ | +21.2% | 5,406,151€ | 11 |
| 262021: rank 89 | Educo Centar Professional services · Podgorica | 02638886Income statement (PDF) | 2,782€ | +52.1% | 533,616€ | 12 |
| 272021: rank 13 | Fakultet za Mediteranske Poslovne Studije, Tivat Education · Tivat | 02742128Income statement (PDF) | 2,754€ | -7.5% | 417,763€ | 10 |
| 28No filing for 2021. | G5 Entertainment Technology · Podgorica | 03421198Income statement (PDF) | 2,749€ | No filing for 2021. | 905,650€ | 23 |
| 29Not in the top 200 in 2021. | Mamula Hotel Operating Company Hospitality · Tivat | 03396592Income statement (PDF) | — | No meaningful percentage: the 2021 or current value is zero, negative, unknown or unreliable. | 3,855€ | 42 |
| 302021: rank 51 | Kodio Technology · Podgorica | 03191451Income statement (PDF) | 2,739€ | +25.9% | 36,480,381€ | 27 |
| 31No filing for 2021. | Tungsten Montenegro Technology · Podgorica | 03428184Income statement (PDF) | 2,708€ | No filing for 2021. | 3,697,467€ | 82 |
| 322021: rank 33 | Coca-Cola Hellenic Bottling Company-Crna Gora Trade · Podgorica | 02303213Income statement (PDF) | 2,697€ | +13.1% | 34,725,962€ | 24 |
| 33No filing for 2021. | Belka Games Me Technology · Budva | 03418545Income statement (PDF) | 2,689€ | No filing for 2021. | 1,473,501€ | 38 |
| 34Not in the top 200 in 2021. | Henley & Partners Montenegro Professional services · Podgorica | 03225941Income statement (PDF) | 2,689€ | -79.6% | 4,264,727€ | 10 |
| 352021: rank 15 | Fakultet za Pomorstvo i Turizam Bar Education · Bar | 02864096Income statement (PDF) | 2,656€ | -2.2% | 838,713€ | 14 |
| 36Not in the top 200 in 2021. | L D Gradnja Construction · Nikšić | 02675188Income statement (PDF) | 2,655€ | +457.8% | 11,541,615€ | 12 |
| 372021: rank 31 | Axians - Crna Gora Technology · Podgorica | 02358514Income statement (PDF) | 2,654€ | +7.8% | 3,021,232€ | 14 |
| 382021: rank 37 | Adriatic Marinas Arts & entertainment · Tivat | 02467593Income statement (PDF) | 2,654€ | +13.3% | 40,015,406€ | 254 |
| 392021: rank 40 | Mol Trening Centar (evropa) Education · Herceg Novi | 02347806Income statement (PDF) | 2,631€ | +13.4% | 802,490€ | 11 |
| 402021: rank 26 | Terna Crna Gora Energy, water & waste · Podgorica | 02845237Income statement (PDF) | 2,612€ | +4.3% | 15,090,410€ | 15 |
| 41Not in the top 200 in 2021. | Finagate Technology · Podgorica | 02957418Income statement (PDF) | 2,597€ | -38.4% | 328,697€ | 10 |
| 422021: rank 35 | Pizzarotti Montenegro Construction · Herceg Novi | 03070778Income statement (PDF) | 2,565€ | +8.6% | 14,830,972€ | 15 |
| 432021: rank 23 | Ernst & Young Montenegro Professional services · Podgorica | 02759080Income statement (PDF) | 2,546€ | -0.2% | 1,507,978€ | 21 |
| 44Not in the top 200 in 2021. | Tehnoput - Mne Construction · Podgorica | 02943620Income statement (PDF) | 2,540€ | +451.0% | 2,184,890€ | 15 |
| 45Not in the top 200 in 2021. | Saga CG Trade · Podgorica | 02657597Income statement (PDF) | 2,536€ | -2.6% | 3,806,640€ | 10 |
| 462021: rank 64 | Tomontenegro Transport & logistics · Podgorica | 03344312Income statement (PDF) | 2,528€ | +22.9% | 42,927,847€ | 123 |
| 472021: rank 99 | Porsche Leasing Finance & insurance · Podgorica | 02694638Income statement (PDF) | 2,497€ | +44.3% | 2,858,863€ | 11 |
| 48Not in the top 200 in 2021. | Koprivica Rosol Comerc Trade · Podgorica | 02302128Income statement (PDF) | 2,481€ | +596.9% | 7,712,304€ | 10 |
| 492021: rank 90 | The Headhunter Montenegro Professional services · Podgorica | 02967880Income statement (PDF) | 2,480€ | +38.0% | 633,287€ | 15 |
| 502021: rank 69 | Crnogorski Operator Tržišta Električne Energije Trade · Podgorica | 02849097Income statement (PDF) | 2,476€ | +22.4% | 723,883€ | 18 |
Showing 1–50 · top 50 of 2,140 companies
* 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 →
This ranking contains 50 records for 2022, ordered by average monthly payroll cost per employee after applying data-quality eligibility rules.
The leading record is D.O.O. "LINUX DEVELOPMENT" BUDVA; placement is determined by average monthly payroll cost per employee, never by payment.
The source, coverage, minimum thresholds and ranking rules are documented in the public methodology. Methodology