Trade companies in Montenegro 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 | ||||
|---|---|---|---|---|---|---|
| 1No filing for 2022. | Noblewood Market Trade · Tivat | 03514889Income statement (PDF) | 5,496€ | No filing for 2022. | 2,786,866€ | 28 |
| 22022: rank 1 | Assaia Development Trade · Podgorica | 03414329Income statement (PDF) | 4,641€ | -4.5% | 2,467,137€ | 38 |
| 3Not in the top 200 in 2022. | Hemofarm Trade · Podgorica | 02625288Income statement (PDF) | 3,645€ | -5.0% | 915,000€ | 10 |
| 42022: rank 9 | Glovo Montenegro Trade · Podgorica | 03351475Income statement (PDF) | 3,438€ | +52.9% | 5,724,694€ | 23 |
| 52022: rank 3 | Coca-Cola Hellenic Bottling Company-Crna Gora Trade · Podgorica | 02303213Income statement (PDF) | 3,256€ | +20.7% | 49,727,211€ | 25 |
| 6No filing for 2022. | Jugopetrol Trade · Podgorica | 02013258Income statement (PDF) | 2,851€ | No filing for 2022. | 254,192,187€ | 98 |
| 72022: rank 2 | Teknoxgroup Crna Gora Trade · Danilovgrad | 02312450Income statement (PDF) | 2,848€ | +1.7% | 3,531,685€ | 12 |
| 82022: rank 14 | Plus Trade · Podgorica | 03024938Income statement (PDF) | 2,757€ | +42.6% | 73,287,796€ | 17 |
| 92022: rank 6 | Crnogorski Operator Tržišta Električne Energije Trade · Podgorica | 02849097Income statement (PDF) | 2,546€ | +2.8% | 805,773€ | 19 |
| 102022: rank 7 | Comtrade Distribution Trade · Podgorica | 02297248Income statement (PDF) | 2,546€ | +3.5% | 28,234,255€ | 29 |
| 112022: rank 4 | Saga CG Trade · Podgorica | 02657597Income statement (PDF) | 2,492€ | -1.7% | 3,594,185€ | 10 |
| 122022: rank 103 | Kidzone Trade · Podgorica | 03267652Income statement (PDF) | 2,329€ | +133.6% | 9,833,158€ | 40 |
| 132022: rank 15 | Ledo Trade · Podgorica | 02126265Income statement (PDF) | 2,305€ | +22.9% | 22,343,842€ | 113 |
| 142022: rank 8 | Montenegro Defence Industry Trade · Podgorica | 02236575Income statement (PDF) | 2,221€ | -4.3% | 3,935,607€ | 18 |
| 152022: rank 26 | Alumil Montenegro Trade · Podgorica | 02411865Income statement (PDF) | 2,180€ | +39.2% | 8,552,044€ | 19 |
| 16Not in the top 200 in 2022. | Casa Del Mobile Trade · Podgorica | 03428001Income statement (PDF) | 2,175€ | +31.0% | 926,227€ | 14 |
| 172022: rank 13 | Wurth Trade · Podgorica | 02672197Income statement (PDF) | 2,141€ | +10.7% | 3,574,136€ | 26 |
| 182022: rank 51 | Micromedia Trade · Podgorica | 02327775Income statement (PDF) | 2,100€ | +55.9% | 4,119,528€ | 11 |
| 192022: rank 12 | Lalizas Montenegro Trade · Tivat | 03174573Income statement (PDF) | 2,097€ | +7.8% | 945,689€ | 10 |
| 202022: rank 11 | Uniprom Pharm Trade · Nikšić | 02903954Income statement (PDF) | 2,053€ | +4.2% | 1,353,922€ | 10 |
| 212022: rank 16 | Also Montenegro Trade · Podgorica | 02412691Income statement (PDF) | 2,052€ | +9.7% | 5,858,228€ | 15 |
| 222022: rank 10 | Montenegro Bonus Trade · Cetinje | 02384337Income statement (PDF) | 2,024€ | -1.9% | 9,440,017€ | 30 |
| 232022: rank 22 | Berba Trade · Tivat | 02811227Income statement (PDF) | 1,978€ | +22.2% | 3,747,912€ | 12 |
| 242022: rank 29 | Napredak Trade · Kotor | 02033542Income statement (PDF) | 1,977€ | +27.5% | 5,056,817€ | 49 |
| 252022: rank 18 | DMD Delta Trade · Podgorica | 02329115Income statement (PDF) | 1,976€ | +10.2% | 50,309,767€ | 67 |
| 262022: rank 54 | Farmalab Trade · Podgorica | 02729164Income statement (PDF) | 1,959€ | +48.3% | 4,965,113€ | 12 |
| 272022: rank 83 | Interactive Trade · Podgorica | 03315878Income statement (PDF) | 1,937€ | +78.0% | 2,076,975€ | 10 |
| 28Not in the top 200 in 2022. | Vibacom Trade · Herceg Novi | 02425726Income statement (PDF) | 1,927€ | +325.4% | 2,253,992€ | 14 |
| 292022: rank 17 | G3 Spirits Trade · Podgorica | 02823381Income statement (PDF) | 1,867€ | +3.1% | 6,305,305€ | 19 |
| 302022: rank 35 | Timicom Trade · Herceg Novi | 02305852Income statement (PDF) | 1,850€ | +22.6% | 5,059,831€ | 27 |
| 312022: rank 5 | Koprivica Rosol Comerc Trade · Podgorica | 02302128Income statement (PDF) | 1,850€ | -25.4% | 9,656,668€ | 15 |
| 322022: rank 28 | Podravka Trade · Podgorica | 02355388Income statement (PDF) | 1,824€ | +16.8% | 9,831,608€ | 33 |
| 332022: rank 33 | Orbico Trade · Podgorica | 02864533Income statement (PDF) | 1,822€ | +19.3% | 4,140,617€ | 27 |
| 342022: rank 19 | Carlsberg Montenegro Trade · Podgorica | 02657457Income statement (PDF) | 1,797€ | +0.6% | 20,708,445€ | 27 |
| 352022: rank 42 | Roma Company Trade · Danilovgrad | 02740338Income statement (PDF) | 1,746€ | +22.1% | 9,665,618€ | 17 |
| 362022: rank 27 | Glosarij CD Trade · Podgorica | 02894998Income statement (PDF) | 1,723€ | +10.2% | 14,834,579€ | 18 |
| 37Not in the top 200 in 2022. | Alarm Automatika Trade · Podgorica | 02774186Income statement (PDF) | 1,710€ | +3.1% | 2,040,510€ | 10 |
| 382022: rank 20 | Pontera Pharma Solutions Trade · Podgorica | 03141284Income statement (PDF) | 1,691€ | +0.8% | 3,419,194€ | 14 |
| 392022: rank 24 | Osmi Red - D Trade · Podgorica | 02296705Income statement (PDF) | 1,679€ | +4.5% | 11,104,213€ | 35 |
| 402022: rank 47 | Emmeti Trade · Podgorica | 03021904Income statement (PDF) | 1,672€ | +21.0% | 1,996,590€ | 18 |
| 41Not in the top 200 in 2022. | Altmed Trade · Podgorica | 03299988Income statement (PDF) | 1,669€ | +30.7% | 1,210,486€ | 12 |
| 422022: rank 66 | Kastex Trade · Podgorica | 02122189Income statement (PDF) | 1,657€ | +33.0% | 3,912,035€ | 17 |
| 432022: rank 30 | Glosarij Trade · Podgorica | 02118912Income statement (PDF) | 1,657€ | +7.8% | 128,290,996€ | 156 |
| 442022: rank 25 | Medica Trade · Podgorica | 02171058Income statement (PDF) | 1,653€ | +4.2% | 10,096,709€ | 11 |
| 452022: rank 34 | Kim Tec CG Trade · Podgorica | 02438372Income statement (PDF) | 1,642€ | +7.6% | 18,442,306€ | 32 |
| 462022: rank 60 | PDG Professional Development Group Trade · Podgorica | 02755149Income statement (PDF) | 1,616€ | +27.1% | 3,895,458€ | 15 |
| 472022: rank 36 | Fashion Porto Trade · Tivat | 02654105Income statement (PDF) | 1,593€ | +6.3% | 4,515,739€ | 23 |
| 482022: rank 37 | Montenegro Duty Free Trade · Podgorica | 03277429Income statement (PDF) | 1,585€ | +6.6% | 7,979,736€ | 40 |
| 49Not in the top 200 in 2022. | Venkon Technix Trade · Podgorica | 03164462Income statement (PDF) | 1,584€ | -36.5% | 5,435,782€ | 12 |
| 502022: rank 39 | Ina - Crna Gora Trade · Podgorica | 02305054Income statement (PDF) | 1,572€ | +7.5% | 115,277,692€ | 133 |
Showing 1–50 · top 50 of 557 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 D.O.O. "NOBLEWOOD MARKET" 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