Manufacturing companies in Montenegro 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 | ||||
|---|---|---|---|---|---|---|
| 12021: rank 8 | Navar Incorporated Manufacturing · Tivat | 02346303Income statement (PDF) | 2,890€ | +73.0% | 3,868,055€ | 32 |
| 22021: rank 11 | Novi Duvanski Kombinat Manufacturing · Podgorica | 02860864Income statement (PDF) | 2,342€ | +51.2% | 1,986,503€ | 23 |
| 32021: rank 4 | Trebjesa Manufacturing · Nikšić | 02000989Income statement (PDF) | 2,241€ | +10.3% | 29,830,281€ | 218 |
| 42021: rank 2 | Messer Tehnogas Manufacturing · Budva | 02670208Income statement (PDF) | 1,955€ | -5.0% | 2,335,704€ | 22 |
| 52021: rank 1 | Uniprom Manufacturing · Nikšić | 02049520Income statement (PDF) | 1,919€ | -54.2% | 172,024,616€ | 140 |
| 62021: rank 3 | Rudo Montenegro Manufacturing · Podgorica | 02691671Income statement (PDF) | 1,880€ | -8.2% | 2,013,112€ | 18 |
| 72021: rank 13 | Daido Metal Kotor Manufacturing · Kotor | 02013053Income statement (PDF) | 1,704€ | +19.1% | 7,044,644€ | 133 |
| 82021: rank 6 | Uniprom - Metali Manufacturing · Nikšić | 02915731Income statement (PDF) | 1,679€ | -2.9% | 20,143,028€ | 37 |
| 92021: rank 7 | Imlek Boka Manufacturing · Kotor | 02357950Income statement (PDF) | 1,653€ | -1.8% | 28,957,372€ | 46 |
| 102021: rank 9 | Kone Manufacturing · Podgorica | 02958554Income statement (PDF) | 1,591€ | -2.4% | 2,267,301€ | 10 |
| 112021: rank 5 | Boster Manufacturing · Nikšić | 03024873Income statement (PDF) | 1,545€ | -16.1% | 2,978,286€ | 12 |
| 122021: rank 14 | Hemomont Manufacturing · Podgorica | 02204185Income statement (PDF) | 1,432€ | +2.7% | 35,845,257€ | 199 |
| 132021: rank 28 | Vagar Manufacturing · Podgorica | 02107171Income statement (PDF) | 1,312€ | +53.5% | 1,070,357€ | 10 |
| 142021: rank 192 | Hemko Manufacturing · Podgorica | 02283115Income statement (PDF) | 1,311€ | +242.3% | 2,352,387€ | 16 |
| 152021: rank 22 | Bread Manufacturing · Tivat | 03151409Income statement (PDF) | 1,281€ | +37.3% | 1,625,719€ | 25 |
| 162021: rank 17 | Maljat Stone Manufacturing · Danilovgrad | 02000466Income statement (PDF) | 1,245€ | -2.4% | 2,430,785€ | 67 |
| 172021: rank 30 | Mondal Industrija Manufacturing · Danilovgrad | 03103919Income statement (PDF) | 1,221€ | +46.1% | 1,103,340€ | 25 |
| 182021: rank 19 | Tara - Aerospace Manufacturing · Mojkovac | 02464691Income statement (PDF) | 1,166€ | -1.4% | 6,348,968€ | 146 |
| 192021: rank 56 | Hanf Pharma Manufacturing · Danilovgrad | 03324338Income statement (PDF) | 1,151€ | +88.7% | 325,945€ | 16 |
| 202021: rank 15 | Alind Manufacturing · Podgorica | 03374882Income statement (PDF) | 1,141€ | -15.0% | 3,068,700€ | 151 |
| 212021: rank 20 | Termoelektro-Mont Manufacturing · Podgorica | 02303124Income statement (PDF) | 1,133€ | +6.0% | 1,994,744€ | 41 |
| 222021: rank 88 | Prento Yacht Assistant Manufacturing · Tivat | 02753685Income statement (PDF) | 1,081€ | +105.5% | 1,004,922€ | 13 |
| 232021: rank 69 | Una Manufacturing · Tivat | 02053489Income statement (PDF) | 1,076€ | +86.8% | 4,243,240€ | 56 |
| 242021: rank 105 | Montenegro Čeluga Manufacturing · Bar | 02935368Income statement (PDF) | 1,066€ | +113.2% | 876,672€ | 15 |
| 252021: rank 26 | Panvel Manufacturing · Podgorica | 02075512Income statement (PDF) | 1,048€ | +20.7% | 10,776,277€ | 40 |
| 26Not in the top 200 in 2021. | Brašno & Kakao Manufacturing · Herceg Novi | 03150011Income statement (PDF) | 1,030€ | +8.6% | 366,971€ | 12 |
| 272021: rank 34 | Monte Bianco Manufacturing · Danilovgrad | 02814455Income statement (PDF) | 1,026€ | +39.2% | 1,318,387€ | 20 |
| 282021: rank 58 | Studio Mouse Manufacturing · Podgorica | 02373203Income statement (PDF) | 1,024€ | +69.3% | 842,281€ | 17 |
| 292021: rank 51 | Stratus Manufacturing · Podgorica | 02076195Income statement (PDF) | 1,017€ | +59.4% | 5,673,620€ | 48 |
| 302021: rank 106 | Nani-Prom Manufacturing · Cetinje | 02445964Income statement (PDF) | 1,002€ | +101.2% | 7,144,963€ | 18 |
| 312021: rank 50 | Poliex Manufacturing · Berane | 02035057Income statement (PDF) | 986€ | +53.1% | 4,111,285€ | 66 |
| 322021: rank 32 | Enterijeri - SNV Manufacturing · Nikšić | 03093387Income statement (PDF) | 972€ | +25.3% | 772,058€ | 11 |
| 33Not in the top 200 in 2021. | Per Aqua Manufacturing · Šavnik | 03130398Income statement (PDF) | 951€ | +136.6% | 1,641,412€ | 13 |
| 342021: rank 97 | Bonesa Manufacturing · Bar | 02251531Income statement (PDF) | 948€ | +85.5% | 18,443,096€ | 38 |
| 352021: rank 68 | Don Don Manufacturing · Danilovgrad | 02757257Income statement (PDF) | 937€ | +62.4% | 4,350,203€ | 23 |
| 362021: rank 117 | Lamex Manufacturing · Danilovgrad | 02816164Income statement (PDF) | 934€ | +94.2% | 2,455,785€ | 28 |
| 372021: rank 25 | Tring Manufacturing · Podgorica | 02281899Income statement (PDF) | 930€ | +2.8% | 3,088,287€ | 19 |
| 382021: rank 35 | Ćatić Co Manufacturing · Bijelo Polje | 02339137Income statement (PDF) | 929€ | +31.8% | 6,912,900€ | 34 |
| 392021: rank 55 | DR - Trade Manufacturing · Podgorica | 02125790Income statement (PDF) | 927€ | +51.5% | 1,199,413€ | 17 |
| 402021: rank 23 | Pro Arm Manufacturing · Podgorica | 03177505Income statement (PDF) | 923€ | +1.5% | 9,692,940€ | 23 |
| 412021: rank 75 | Montecco Inc Manufacturing · Danilovgrad | 02306689Income statement (PDF) | 922€ | +66.1% | 11,076,973€ | 74 |
| 422021: rank 114 | SKY Sat Manufacturing · Herceg Novi | 02056151Income statement (PDF) | 900€ | +85.2% | 2,475,093€ | 17 |
| 432021: rank 79 | Čantrić Manufacturing · Berane | 02636590Income statement (PDF) | 899€ | +66.2% | 7,453,322€ | 11 |
| 44Not in the top 200 in 2021. | Montstate Manufacturing · Cetinje | 02121581Income statement (PDF) | 893€ | +153.7% | 3,836,327€ | 10 |
| 452021: rank 36 | Water Group Manufacturing · Kolašin | 02437805Income statement (PDF) | 878€ | +24.9% | 4,841,912€ | 68 |
| 462021: rank 39 | Goranović Manufacturing · Nikšić | 02109301Income statement (PDF) | 876€ | +28.3% | 23,437,346€ | 171 |
| 472021: rank 40 | Braća Despot Manufacturing · Podgorica | 02631962Income statement (PDF) | 873€ | +28.2% | 753,414€ | 12 |
| 482021: rank 16 | Bus Manufacturing · Bijelo Polje | 02144565Income statement (PDF) | 867€ | -33.5% | 583,726€ | 17 |
| 492021: rank 84 | Montenegro Pekara B&T Manufacturing · Podgorica | 02864975Income statement (PDF) | 867€ | +62.1% | 711,223€ | 11 |
| 502021: rank 127 | SNJ Gornič Manufacturing · Cetinje | 02268132Income statement (PDF) | 858€ | +87.3% | 928,141€ | 17 |
Showing 1–50 · top 50 of 263 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 "NAVAR INCORPORATED" D.O.O. ZA PROIZVODNJU, PROMET I USLUGE TIVAT; 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