Montenegro companies ranked by average monthly payroll cost per employee 2023. This 2023 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 2023, on the same criteria as the latest one. Latest list (2025)
Public financial statements processed by BizStats.me.
| # | Company | PIB | ||||
|---|---|---|---|---|---|---|
| 1Not in the top 200 in 2022. | Eurofast Solutions Technology · Podgorica | 03496007Income statement (PDF) | 9,384€ | +2,463.9% | 1,202,052€ | 10 |
| 22022: rank 1 | Linux Development Technology · Budva | 03421252Income statement (PDF) | 6,955€ | +26.9% | 3,002,400€ | 35 |
| 32022: rank 5 | Azmont Investments Real estate · Herceg Novi | 02893126Income statement (PDF) | 6,559€ | +39.1% | 43,424,757€ | 21 |
| 42022: rank 7 | Arctic 7 Technology · Podgorica | 03442586Income statement (PDF) | 6,173€ | +42.8% | 2,482,265€ | 30 |
| 52022: rank 2 | Barska Plovidba Transport & logistics · Bar | 02324784Income statement (PDF) | 5,752€ | +8.7% | 10,974,045€ | 33 |
| 62022: rank 4 | Kontrola Letenja Srbije i Crne Gore Smatsa D.O.O.,beograd Transport & logistics · Podgorica | 02627744Income statement (PDF) | 5,711€ | +18.7% | 7,415,547€ | 102 |
| 72022: rank 33 | Belka Games Me Technology · Budva | 03418545Income statement (PDF) | 5,707€ | +112.2% | 4,739,224€ | 60 |
| 8No filing for 2022. | Noblewood Market Trade · Tivat | 03514889Income statement (PDF) | 5,496€ | No filing for 2022. | 2,786,866€ | 28 |
| 9Not in the top 200 in 2022. | FSTR Technology · Podgorica | 03424804Income statement (PDF) | 5,484€ | +20.3% | 2,721,796€ | 16 |
| 102022: rank 3 | Assaia Development Trade · Podgorica | 03414329Income statement (PDF) | 4,641€ | -4.5% | 2,467,137€ | 38 |
| 112022: rank 14 | Artec 3D Adriatica Technology · Bar | 03413381Income statement (PDF) | 4,595€ | +35.7% | 5,294,941€ | 84 |
| 12Not in the top 200 in 2022. | Lidl Crna Gora Real estate · Podgorica | 03348202Income statement (PDF) | — | No meaningful percentage: the 2022 or current value is zero, negative, unknown or unreliable. | 5,330€ | 12 |
| 132022: rank 9 | Luštica Development Hospitality · Tivat | 02744597Income statement (PDF) | 4,489€ | +23.4% | 54,675,604€ | 93 |
| 14Not in the top 200 in 2022. | Top Hill Hospitality · Budva | 02786818Income statement (PDF) | 4,321€ | -18.6% | 1,942,525€ | 13 |
| 152022: rank 8 | Ooblee Technology · Podgorica | 03216446Income statement (PDF) | 4,136€ | +3.1% | 1,817,690€ | 18 |
| 16Not in the top 200 in 2022. | Turk Hava Yollari Transport & logistics · Podgorica | 02794969Income statement (PDF) | 4,121€ | -6.4% | 2,317,202€ | 11 |
| 172022: rank 11 | Hoffmann - La Roche LTD Professional services · Podgorica | 02639408Income statement (PDF) | 3,950€ | +13.2% | 1,065,141€ | 10 |
| 182022: rank 20 | Brskovo Mine Mining · Podgorica | 02770440Income statement (PDF) | — | No meaningful percentage: the 2022 or current value is zero, negative, unknown or unreliable. | 4,824€ | 21 |
| 19Not in the top 200 in 2022. | Art Gradnja Bar Construction · Bar | 02812398Income statement (PDF) | 3,868€ | +801.6% | 1,745,966€ | 14 |
| 202022: rank 10 | N.V.Besix S.A. Montenegro Construction · Tivat | 02945371Income statement (PDF) | 3,808€ | +6.4% | 14,599,899€ | 21 |
| 212022: rank 34 | Henley & Partners Montenegro Professional services · Podgorica | 03225941Income statement (PDF) | 3,765€ | +40.0% | 4,859,134€ | 10 |
| 222022: rank 40 | Terna Crna Gora Energy, water & waste · Podgorica | 02845237Income statement (PDF) | 3,686€ | +41.1% | 15,843,677€ | 11 |
| 23Not in the top 200 in 2022. | Perspektif Yapi Insaat Sanayi Ve Ticaret Anonim Sirketi Construction · Podgorica | 03482219Income statement (PDF) | 3,651€ | -19.0% | 50,766,489€ | 247 |
| 24Not in the top 200 in 2022. | Hemofarm Trade · Podgorica | 02625288Income statement (PDF) | 3,645€ | -5.0% | 915,000€ | 10 |
| 252022: rank 31 | Tungsten Montenegro Technology · Podgorica | 03428184Income statement (PDF) | 3,634€ | +34.2% | 6,225,382€ | 117 |
| 26Not in the top 200 in 2022. | HRS Technologies Education · Budva | 03415775Income statement (PDF) | 3,627€ | +77.4% | 772,158€ | 14 |
| 27Not in the top 200 in 2022. | Poliklinika Milmedika Health & social care · Nikšić | 03457036Income statement (PDF) | 3,570€ | +169.4% | 1,407,362€ | 20 |
| 282022: rank 37 | Axians - Crna Gora Technology · Podgorica | 02358514Income statement (PDF) | 3,567€ | +34.4% | 2,050,113€ | 14 |
| 292022: rank 28 | G5 Entertainment Technology · Podgorica | 03421198Income statement (PDF) | 3,567€ | +29.8% | 3,977,687€ | 80 |
| 302022: rank 51 | Zeta Energy Energy, water & waste · Danilovgrad | 02794624Income statement (PDF) | 3,546€ | +43.6% | 2,515,106€ | 16 |
| 312022: rank 12 | Epam Systems Montenegro Technology · Podgorica | 03381447Income statement (PDF) | 3,539€ | +1.5% | 17,800,804€ | 352 |
| 322022: rank 6 | China Road & Bridge Corporation Construction · Podgorica | 03016480Income statement (PDF) | 3,528€ | -21.8% | 25,460,478€ | 63 |
| 33Not in the top 200 in 2022. | Playrix Montenegro Technology · Podgorica | 03489159Income statement (PDF) | 3,477€ | No meaningful percentage: the 2022 or current value is zero, negative, unknown or unreliable. | 4,631,400€ | 90 |
| 34Not in the top 200 in 2022. | Alumontaža-Company Construction · Podgorica | 03308600Income statement (PDF) | 3,446€ | -91.4% | 709,449€ | 12 |
| 352022: rank 59 | Glovo Montenegro Trade · Podgorica | 03351475Income statement (PDF) | 3,438€ | +52.9% | 5,724,694€ | 23 |
| 362022: rank 35 | Fakultet za Pomorstvo i Turizam Bar Education · Bar | 02864096Income statement (PDF) | 3,361€ | +26.5% | 893,798€ | 12 |
| 37Not in the top 200 in 2022. | Mankrik Technology · Budva | 03454517Income statement (PDF) | 3,356€ | +571.2% | 3,169,050€ | 28 |
| 382022: rank 113 | HTL Devco Technology · Podgorica | 03421180Income statement (PDF) | 3,350€ | +81.0% | 1,682,007€ | 34 |
| 39Not in the top 200 in 2022. | Crnogorska Plovidba Transport & logistics · Kotor | 02399849Income statement (PDF) | 3,314€ | -4.1% | 9,111,475€ | 10 |
| 40Not in the top 200 in 2022. | Health Samurai Montenegro Technology · Budva | 03418472Income statement (PDF) | 3,292€ | +26.9% | 1,681,888€ | 21 |
| 412022: rank 16 | Datum Solutions Technology · Podgorica | 03073572Income statement (PDF) | 3,280€ | +3.2% | 1,293,162€ | 27 |
| 42Not in the top 200 in 2022. | Capvidia MN Technology · Podgorica | 03421651Income statement (PDF) | 3,275€ | +23.1% | 961,185€ | 19 |
| 432022: rank 21 | Quantox Technology Technology · Podgorica | 03373398Income statement (PDF) | 3,258€ | +9.8% | 467,174€ | 11 |
| 442022: rank 32 | Coca-Cola Hellenic Bottling Company-Crna Gora Trade · Podgorica | 02303213Income statement (PDF) | 3,256€ | +20.7% | 49,727,211€ | 25 |
| 452022: rank 49 | The Headhunter Montenegro Professional services · Podgorica | 02967880Income statement (PDF) | 3,146€ | +26.9% | 1,019,982€ | 20 |
| 462022: rank 89 | Inženjer Gogić Construction · Podgorica | 03095037Income statement (PDF) | 3,103€ | +55.9% | 3,270,264€ | 22 |
| 472022: rank 39 | Mol Trening Centar (evropa) Education · Herceg Novi | 02347806Income statement (PDF) | 3,057€ | +16.2% | 975,297€ | 11 |
| 482022: rank 80 | Optimal Health & social care · Podgorica | 02850222Income statement (PDF) | 3,055€ | +49.8% | 857,856€ | 15 |
| 492022: rank 23 | Infinum Montenegro Technology · Podgorica | 03360962Income statement (PDF) | 3,010€ | +3.6% | 1,009,443€ | 18 |
| 502022: rank 38 | Adriatic Marinas Arts & entertainment · Tivat | 02467593Income statement (PDF) | 2,998€ | +13.0% | 36,625,569€ | 274 |
Showing 1–50 · top 50 of 2,345 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 2023, ordered by average monthly payroll cost per employee after applying data-quality eligibility rules.
The leading record is "EUROFAST SOLUTIONS" D.O.O. BEOGRAD - DIO STRANOG DRUŠTVA PODGORICA; 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