Manufacturing companies in Montenegro ranked by average monthly payroll cost per employee 2024. This 2024 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 2024, on the same criteria as the latest one. Latest list (2025)
Public financial statements processed by BizStats.me.
| # | Company | PIB | ||||
|---|---|---|---|---|---|---|
| 12023: rank 85 | Finezza Manufacturing · Podgorica | 03264980Income statement (PDF) | 2,950€ | +271.1% | 898,843€ | 10 |
| 22023: rank 1 | Adriatic 42 Manufacturing · Herceg Novi | 02700930Income statement (PDF) | 2,946€ | +19.2% | 5,982,437€ | 93 |
| 32023: rank 9 | Mondal Industrija Manufacturing · Danilovgrad | 03103919Income statement (PDF) | 2,941€ | +66.7% | 1,372,604€ | 24 |
| 42023: rank 5 | Boster Manufacturing · Nikšić | 03024873Income statement (PDF) | 2,592€ | +20.3% | 4,557,143€ | 12 |
| 52023: rank 4 | Messer Tehnogas Manufacturing · Budva | 02670208Income statement (PDF) | 2,474€ | +14.2% | 2,173,583€ | 19 |
| 62023: rank 3 | Trebjesa Manufacturing · Nikšić | 02000989Income statement (PDF) | 2,286€ | +1.8% | 35,450,620€ | 216 |
| 72023: rank 2 | Navar Incorporated Manufacturing · Tivat | 02346303Income statement (PDF) | 2,243€ | -9.1% | 5,392,946€ | 37 |
| 82023: rank 7 | Uniprom Manufacturing · Nikšić | 02049520Income statement (PDF) | 2,214€ | +7.1% | 52,022,970€ | 182 |
| 92023: rank 6 | Rudo Montenegro Manufacturing · Podgorica | 02691671Income statement (PDF) | 2,102€ | +1.3% | 2,383,381€ | 19 |
| 102023: rank 13 | Noblewood Adriatic Manufacturing · Nikšić | 03444759Income statement (PDF) | 1,984€ | +16.1% | 22,924,850€ | 156 |
| 112023: rank 8 | Uniprom - Metali Manufacturing · Nikšić | 02915731Income statement (PDF) | 1,944€ | +5.7% | 29,383,208€ | 36 |
| 122023: rank 12 | Vagar Manufacturing · Podgorica | 02107171Income statement (PDF) | 1,926€ | +12.6% | 1,260,181€ | 10 |
| 132023: rank 30 | Termoelektro-Mont Manufacturing · Podgorica | 02303124Income statement (PDF) | 1,870€ | +53.5% | 1,355,337€ | 25 |
| 142023: rank 10 | Kone Manufacturing · Podgorica | 02958554Income statement (PDF) | 1,816€ | +3.9% | 2,653,929€ | 12 |
| 152023: rank 15 | Daido Metal Kotor Manufacturing · Kotor | 02013053Income statement (PDF) | 1,770€ | +7.5% | 8,033,184€ | 134 |
| 162023: rank 11 | Imlek Boka Manufacturing · Kotor | 02357950Income statement (PDF) | 1,738€ | +0.3% | 34,683,367€ | 48 |
| 172023: rank 18 | Hemomont Manufacturing · Podgorica | 02204185Income statement (PDF) | 1,727€ | +11.3% | 39,534,757€ | 231 |
| 182023: rank 20 | Panvel Manufacturing · Podgorica | 02075512Income statement (PDF) | 1,696€ | +15.2% | 21,535,957€ | 100 |
| 192023: rank 36 | Ćatić Co Manufacturing · Bijelo Polje | 02339137Income statement (PDF) | 1,597€ | +51.4% | 8,502,156€ | 29 |
| 202023: rank 19 | Bread Manufacturing · Tivat | 03151409Income statement (PDF) | 1,471€ | -2.1% | 1,634,756€ | 24 |
| 212023: rank 22 | Tara - Aerospace Manufacturing · Mojkovac | 02464691Income statement (PDF) | 1,431€ | +5.7% | 24,398,933€ | 221 |
| 222023: rank 73 | VHM Solutions Manufacturing · Nikšić | 02283441Income statement (PDF) | 1,427€ | +70.9% | 7,483,160€ | 118 |
| 232023: rank 32 | Studio Mouse Manufacturing · Podgorica | 02373203Income statement (PDF) | 1,426€ | +19.2% | 971,847€ | 17 |
| 242023: rank 39 | Red Commerce Manufacturing · Podgorica | 02391678Income statement (PDF) | 1,416€ | +37.3% | 20,003,895€ | 46 |
| 252023: rank 28 | Poliex Manufacturing · Berane | 02035057Income statement (PDF) | 1,411€ | +13.4% | 13,863,026€ | 109 |
| 262023: rank 26 | Una Manufacturing · Tivat | 02053489Income statement (PDF) | 1,402€ | +10.9% | 5,072,062€ | 59 |
| 272023: rank 83 | MPM Company Manufacturing · Podgorica | 02703467Income statement (PDF) | 1,388€ | +73.7% | 590,886€ | 14 |
| 282023: rank 33 | Epcg-Željezara Nikšić Manufacturing · Nikšić | 03530272Income statement (PDF) | 1,382€ | +18.4% | 3,303,422€ | 284 |
| 292023: rank 17 | Montepane Manufacturing · Herceg Novi | 03479234Income statement (PDF) | 1,377€ | -11.3% | 585,356€ | 20 |
| 302023: rank 21 | Roto - Term Manufacturing · Pljevlja | 03226441Income statement (PDF) | 1,345€ | -8.6% | 2,615,490€ | 37 |
| 312023: rank 35 | Braća Despot Manufacturing · Podgorica | 02631962Income statement (PDF) | 1,344€ | +25.7% | 753,221€ | 11 |
| 322023: rank 29 | SKY Sat Manufacturing · Herceg Novi | 02056151Income statement (PDF) | 1,343€ | +8.6% | 1,834,750€ | 21 |
| 332023: rank 31 | Sloga Manufacturing · Rožaje | 02044927Income statement (PDF) | 1,323€ | +10.4% | 1,664,935€ | 14 |
| 342023: rank 24 | Maljat Stone Manufacturing · Danilovgrad | 02000466Income statement (PDF) | 1,304€ | -0.3% | 2,111,579€ | 68 |
| 352023: rank 25 | Tring Manufacturing · Podgorica | 02281899Income statement (PDF) | 1,301€ | -0.1% | 3,074,628€ | 23 |
| 362023: rank 62 | Aqua Bianca Manufacturing · Podgorica | 02448718Income statement (PDF) | 1,272€ | +46.9% | 2,657,585€ | 28 |
| 372023: rank 84 | Viral Manufacturing · Podgorica | 02707217Income statement (PDF) | 1,265€ | +58.3% | 3,826,791€ | 28 |
| 382023: rank 41 | Montecco Inc Manufacturing · Danilovgrad | 02306689Income statement (PDF) | 1,239€ | +22.8% | 13,273,338€ | 92 |
| 392023: rank 57 | Metron Manufacturing · Podgorica | 03054730Income statement (PDF) | 1,216€ | +37.2% | 8,720,472€ | 34 |
| 402023: rank 37 | Water Group Manufacturing · Kolašin | 02437805Income statement (PDF) | 1,205€ | +15.2% | 6,694,241€ | 79 |
| 412023: rank 27 | Elit M.M.R Manufacturing · Nikšić | 03222233Income statement (PDF) | 1,180€ | -5.7% | 1,152,792€ | 22 |
| 422023: rank 23 | Montenegro Čeluga Manufacturing · Bar | 02935368Income statement (PDF) | 1,174€ | -12.7% | 988,519€ | 18 |
| 432023: rank 40 | DR - Trade Manufacturing · Podgorica | 02125790Income statement (PDF) | 1,170€ | +14.1% | 2,096,321€ | 20 |
| 442023: rank 151 | Čantrić Manufacturing · Berane | 02636590Income statement (PDF) | 1,156€ | +78.1% | 8,663,385€ | 16 |
| 45Not in the top 200 in 2023. | Hemik Trade Manufacturing · Podgorica | 03469875Income statement (PDF) | 1,155€ | +159.0% | 2,914,063€ | 20 |
| 462023: rank 91 | Montemlin Šajo Manufacturing · Danilovgrad | 02343312Income statement (PDF) | 1,154€ | +47.4% | 1,783,565€ | 10 |
| 47Not in the top 200 in 2023. | Mit - Berane Manufacturing · Berane | 02851962Income statement (PDF) | 1,137€ | -30.6% | 259,540€ | 10 |
| 482023: rank 34 | Bonesa Manufacturing · Bar | 02251531Income statement (PDF) | 1,135€ | +3.9% | 22,577,769€ | 42 |
| 492023: rank 49 | Don Don Manufacturing · Danilovgrad | 02757257Income statement (PDF) | 1,122€ | +18.4% | 6,143,353€ | 37 |
| 502023: rank 97 | Interproduct Manufacturing · Cetinje | 02272652Income statement (PDF) | 1,114€ | +44.9% | 3,470,680€ | 10 |
Showing 1–50 · top 50 of 286 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 2024, ordered by average monthly payroll cost per employee after applying data-quality eligibility rules.
The leading record is D.O.O. "FINEZZA" 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