Revenue
1.00b€2.6× since 2015
5.7% of Montenegro's revenue
Budva
5,552 companies earned 1.00b€ in 2025, 5.7% of all company revenue in Montenegro. It ranks 3 of 25 municipalities by revenue. Revenue has grown 2.6× since 2015.
Municipality · 2025
Year
Overview
Companies
5,552+4,010 since 2015
202.3 per 1,000 residents · Montenegro 57.3
Employees
18,1932.2× since 2015
Largest employer: Budvanska Rivijera (600)
Profit margin
2.7%3.4 pts below average
Total profit: 26.90m€
This municipality 2.7%Montenegro: 6.1%
Payroll cost/emp./mo*
1,169€6% below average
Average per employee, not per company
This municipality 1,169€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 383,810,343€ | 1,542 |
| 2016 | 444,494,047€ | 1,746 |
| 2017 | 472,980,155€ | 1,980 |
| 2018 | 530,680,779€ | 2,746 |
| 2019 | 560,118,454€ | 3,195 |
| 2020 | 330,171,815€ | 3,435 |
| 2021 | 522,432,693€ | 3,741 |
| 2022 | 708,025,501€ | 4,710 |
| 2023 | 892,278,713€ | 5,695 |
| 2024 | 962,555,670€ | 6,029 |
| 2025 (Preliminary) | 1,004,597,030€ | 5,552 |
The number of companies jumped most in 2022: from 3,741 to 4,710.
Companies are assigned to the municipality of their current seat for every year
What changed in 2025
Growth is measured on the same companies, which filed for both years.
- Revenue, same companies (4,978)
- 940.42m€ → 959.86m€
- Employees, same companies
- 16,315 → 17,033
- Payroll cost per employee, same companies
- 1,078€ → 1,187€
- Filed for 2025, not for 2024
- 574 companies · 44.74m€
- Filed for 2024, not for 2025
- 1,051 companies, 22.13m€ in 2024
Sectors and who is growing
Revenue by sector
Share of municipal revenue
Share in Montenegro- Hospitality 302.41m€Montenegro: 7.2%30.1%
- Trade 232.11m€Montenegro: 43.8%23.1%
- Construction 153.24m€Montenegro: 11.9%15.3%
- Administrative services 63.67m€Montenegro: 2.3%6.3%
- Arts & entertainment 51.24m€Montenegro: 2.7%5.1%
- Real estate 50.18m€Montenegro: 1.3%5.0%
- Professional services 35.77m€Montenegro: 4.3%3.6%
- Other sectors (10) 115.98m€11.5%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- Electro Team3.40m€ → 7.47m€+119.8%
- Monolith1.18m€ → 2.29m€+94.8%
- Montenegro - Cop1.90m€ → 3.67m€+93.7%
- Norma3.76m€ → 6.08m€+61.7%
- Galop Inženjering1.25m€ → 2.01m€+60.9%
Largest employers
Employees and payroll cost per employee per month*
- 6001,325€
- 5651,894€
- 4021,250€
- 3541,556€
- 321821€
Development signals and urban projects
- Date not published06 333 25 2538 9 MER BER GROUP D.O.O. BUDVAUTU issued
- Date not published87 montekonstrukt doo budva obavjestenje o javnom objavljivanju poziva za dopunu zahtjevaApplication
- Date not publishedadriatic estate investment doo obavjestenje o javnom objavljivanjuConcept design approved
- Date not publishedblue marlin dooApplication
- Date not publishedblue marlin dooApplication
All companies (5,552)
Ranked by total revenue · Showing 51–100 of 5,552
- 51Kara & Vertical Construction03496996 · ConstructionRevenue share0.3%
- Revenue
- 3,274,559€
- Revenue change 2024→2025
- +163,727,850.0%
- Profit
- 302,566€
- Margin
- 9.2%
- Employees
- 1
- Payroll cost/emp./mo*
- 1,311€
- 52Yes Event02416174 · Professional servicesRevenue share0.3%
- Revenue
- 3,270,554€
- Revenue change 2024→2025
- +44.2%
- Profit
- 317,273€
- Margin
- 9.7%
- Employees
- 14
- Payroll cost/emp./mo*
- 1,725€
- 53Stratex Management02978229 · Real estateRevenue share0.3%
- Revenue
- 3,250,538€
- Revenue change 2024→2025
- +5.5%
- Profit
- 259,717€
- Margin
- 8.0%
- Employees
- 80
- Payroll cost/emp./mo*
- 1,834€
- 54Mercur Trade International02894645 · Transport & logisticsRevenue share0.3%
- Revenue
- 3,216,972€
- Revenue change 2024→2025
- +2.0%
- Profit
- 183,054€
- Margin
- 5.7%
- Employees
- 74
- Payroll cost/emp./mo*
- 1,376€
- 55Zeta Film02005263 · HospitalityRevenue share0.3%
- Revenue
- 2,863,684€
- Revenue change 2024→2025
- -91.6%
- Profit
- 840,690€
- Margin
- 29.4%
- Employees
- 13
- Payroll cost/emp./mo*
- 1,659€
- 56Centro02458195 · HospitalityRevenue share0.3%
- Revenue
- 2,845,531€
- Revenue change 2024→2025
- +23.5%
- Profit
- 633,288€
- Margin
- 22.3%
- Employees
- 37
- Payroll cost/emp./mo*
- 1,208€
- 57Rivulet International03327302 · TradeRevenue share0.3%
- Revenue
- 2,818,615€
- Revenue change 2024→2025
- +26.2%
- Profit
- 26,230€
- Margin
- 0.9%
- Employees
- 2
- Payroll cost/emp./mo*
- 1,373€
- 58Bizard Company03295826 · ConstructionRevenue share0.3%
- Revenue
- 2,771,379€
- Revenue change 2024→2025
- +24.6%
- Profit
- 160,184€
- Margin
- 5.8%
- Employees
- 1
- Payroll cost/emp./mo*
- 4,453€
- 59Poseidon02832224 · HospitalityRevenue share0.3%
- Revenue
- 2,768,935€
- Revenue change 2024→2025
- +0.9%
- Profit
- 670,601€
- Margin
- 24.2%
- Employees
- 56
- Payroll cost/emp./mo*
- 735€
- 60Obala Rafailovići02958813 · HospitalityRevenue share0.3%
- Revenue
- 2,739,063€
- Revenue change 2024→2025
- +12.5%
- Profit
- 255,437€
- Margin
- 9.3%
- Employees
- 41
- Payroll cost/emp./mo*
- 801€
- 61Stab02961989 · ConstructionRevenue share0.3%
- Revenue
- 2,680,851€
- Revenue change 2024→2025
- -30.1%
- Profit
- 121,657€
- Margin
- 4.5%
- Employees
- 60
- Payroll cost/emp./mo*
- 659€
- 62Adriatikkoledž03038726 · EducationRevenue share0.3%
- Revenue
- 2,678,553€
- Revenue change 2024→2025
- +6.6%
- Profit
- 78,487€
- Margin
- 2.9%
- Employees
- 70
- Payroll cost/emp./mo*
- 1,851€
- 63D.N.F.02399393 · TradeRevenue share0.3%
- Revenue
- 2,579,986€
- Revenue change 2024→2025
- +16.0%
- Profit
- 87,653€
- Margin
- 3.4%
- Employees
- 20
- Payroll cost/emp./mo*
- 368€
- 64Farro Mne03462188 · HospitalityRevenue share0.2%
- Revenue
- 2,476,810€
- Revenue change 2024→2025
- +44.0%
- Profit
- 37,469€
- Margin
- 1.5%
- Employees
- 10
- Payroll cost/emp./mo*
- 2,355€
- 65Kod Zećana Company03063852 · TradeRevenue share0.2%
- Revenue
- 2,435,382€
- Revenue change 2024→2025
- +4.8%
- Profit
- 36,260€
- Margin
- 1.5%
- Employees
- 6
- Payroll cost/emp./mo*
- 2,853€
- 66Hotel Park03610250 · HospitalityRevenue share0.2%
- Revenue
- 2,366,930€
- Revenue change 2024→2025
- +24.6%
- Profit
- 167,703€
- Margin
- 7.1%
- Employees
- 17
- Payroll cost/emp./mo*
- 1,977€
- 67KM Inženjering03400948 · ConstructionRevenue share0.2%
- Revenue
- 2,364,656€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- 612,916€
- Margin
- 25.9%
- Employees
- 1
- Payroll cost/emp./mo*
- —
- 68Nativa02403684 · TradeRevenue share0.2%
- Revenue
- 2,316,455€
- Revenue change 2024→2025
- +9.4%
- Profit
- 431,239€
- Margin
- 18.6%
- Employees
- 9
- Payroll cost/emp./mo*
- 2,161€
- 69Monolith02639459 · ConstructionRevenue share0.2%
- Revenue
- 2,293,176€
- Revenue change 2024→2025
- +94.8%
- Profit
- 139,599€
- Margin
- 6.1%
- Employees
- 22
- Payroll cost/emp./mo*
- 1,059€
- 70Bello Porto02627248 · HospitalityRevenue share0.2%
- Revenue
- 2,254,203€
- Revenue change 2024→2025
- +9.2%
- Profit
- 23,718€
- Margin
- 1.1%
- Employees
- 30
- Payroll cost/emp./mo*
- 1,442€
- 71Gospoština Lux03037029 · HospitalityRevenue share0.2%
- Revenue
- 2,243,451€
- Revenue change 2024→2025
- +10.5%
- Profit
- 407,346€
- Margin
- 18.2%
- Employees
- 38
- Payroll cost/emp./mo*
- 938€
- 72Laganini03155820 · HospitalityRevenue share0.2%
- Revenue
- 2,242,523€
- Revenue change 2024→2025
- +6.4%
- Profit
- 513,533€
- Margin
- 22.9%
- Employees
- 33
- Payroll cost/emp./mo*
- 1,378€
- 73Mediteran Express02851890 · Transport & logisticsRevenue share0.2%
- Revenue
- 2,204,341€
- Revenue change 2024→2025
- -3.1%
- Profit
- 240,251€
- Margin
- 10.9%
- Employees
- 62
- Payroll cost/emp./mo*
- 1,199€
- 74W Touristic03208478 · Administrative servicesRevenue share0.2%
- Revenue
- 2,177,680€
- Revenue change 2024→2025
- -70.3%
- Profit
- 10,984€
- Margin
- 0.5%
- Employees
- 4
- Payroll cost/emp./mo*
- 665€
- 75Eurasia Tourism03182401 · Administrative servicesRevenue share0.2%
- Revenue
- 2,157,129€
- Revenue change 2024→2025
- +18.3%
- Profit
- 172,273€
- Margin
- 8.0%
- Employees
- 1
- Payroll cost/emp./mo*
- 699€
- 76Mix Markt 380503360032 · TradeRevenue share0.2%
- Revenue
- 2,121,440€
- Revenue change 2024→2025
- -16.3%
- Profit
- 107,001€
- Margin
- 5.0%
- Employees
- 10
- Payroll cost/emp./mo*
- 1,669€
- 77V&V Investment Group02005344 · Real estateRevenue share0.2%
- Revenue
- 2,082,312€
- Revenue change 2024→2025
- +188.1%
- Profit
- 620,591€
- Margin
- 29.8%
- Employees
- 6
- Payroll cost/emp./mo*
- 3,782€
- 78Stublina03183696 · ConstructionRevenue share0.2%
- Revenue
- 2,077,716€
- Revenue change 2024→2025
- -58.0%
- Profit
- 144,005€
- Margin
- 6.9%
- Employees
- 18
- Payroll cost/emp./mo*
- 2,022€
- 79Stefan Mitrov Ljubiša02005646 · EducationRevenue share0.2%
- Revenue
- 2,046,249€
- Revenue change 2024→2025
- +8.5%
- Profit
- -6,900€
- Margin
- -0.3%
- Employees
- 143
- Payroll cost/emp./mo*
- 1,104€
- 80Adriatic Properties02638495 · HospitalityRevenue share0.2%
- Revenue
- 2,040,746€
- Revenue change 2024→2025
- +12.0%
- Profit
- -9,525,538€
- Margin
- -466.8%
- Employees
- 59
- Payroll cost/emp./mo*
- 1,682€
- 81Maslovar02624125 · TradeRevenue share0.2%
- Revenue
- 2,024,529€
- Revenue change 2024→2025
- +1.6%
- Profit
- 34,014€
- Margin
- 1.7%
- Employees
- 7
- Payroll cost/emp./mo*
- 920€
- 82Tradeunique CG02398311 · ConstructionRevenue share0.2%
- Revenue
- 2,021,516€
- Revenue change 2024→2025
- -1.1%
- Profit
- 8,000€
- Margin
- 0.4%
- Employees
- 8
- Payroll cost/emp./mo*
- 2,049€
- 83Mediteran Grupa02753103 · HospitalityRevenue share0.2%
- Revenue
- 2,017,670€
- Revenue change 2024→2025
- -14.7%
- Profit
- 242,568€
- Margin
- 12.0%
- Employees
- 40
- Payroll cost/emp./mo*
- 1,149€
- 84Galop Inženjering02388081 · ConstructionRevenue share0.2%
- Revenue
- 2,009,907€
- Revenue change 2024→2025
- +60.9%
- Profit
- 92,863€
- Margin
- 4.6%
- Employees
- 9
- Payroll cost/emp./mo*
- 3,196€
- 85Monte - Co02714523 · ConstructionRevenue share0.2%
- Revenue
- 2,005,916€
- Revenue change 2024→2025
- +108.5%
- Profit
- 116,935€
- Margin
- 5.8%
- Employees
- 2
- Payroll cost/emp./mo*
- 3,402€
- 86Applicon Tours Montenegro03066827 · HospitalityRevenue share0.2%
- Revenue
- 1,984,150€
- Revenue change 2024→2025
- +5.8%
- Profit
- 4,029€
- Margin
- 0.2%
- Employees
- 4
- Payroll cost/emp./mo*
- 3,812€
- 87Belka Games Me03418545 · TechnologyRevenue share0.2%
- Revenue
- 1,969,609€
- Revenue change 2024→2025
- -39.2%
- Profit
- 76,129€
- Margin
- 3.9%
- Employees
- 23
- Payroll cost/emp./mo*
- 5,079€
- 88Porto Budva Company02447746 · HospitalityRevenue share0.2%
- Revenue
- 1,964,967€
- Revenue change 2024→2025
- +7.9%
- Profit
- 305,223€
- Margin
- 15.5%
- Employees
- 35
- Payroll cost/emp./mo*
- 1,008€
- 89Bta02410966 · Administrative servicesRevenue share0.2%
- Revenue
- 1,963,636€
- Revenue change 2024→2025
- -2.4%
- Profit
- 9,681€
- Margin
- 0.5%
- Employees
- 4
- Payroll cost/emp./mo*
- 999€
- 90Sveti Stefan Hoteli03275108 · HospitalityRevenue share0.2%
- Revenue
- 1,928,275€
- Revenue change 2024→2025
- +199.7%
- Profit
- 1,102,665€
- Margin
- 57.2%
- Employees
- 4
- Payroll cost/emp./mo*
- 3,118€
- 91Emerald Invest03528227 · ConstructionRevenue share0.2%
- Revenue
- 1,875,275€
- Revenue change 2024→2025
- +101.2%
- Profit
- 515,493€
- Margin
- 27.5%
- Employees
- 2
- Payroll cost/emp./mo*
- 1,950€
- 92I N C02425912 · HospitalityRevenue share0.2%
- Revenue
- 1,849,738€
- Revenue change 2024→2025
- -4.6%
- Profit
- 209,422€
- Margin
- 11.3%
- Employees
- 30
- Payroll cost/emp./mo*
- 1,710€
- 93Top Alco Brands Distribution03200825 · TradeRevenue share0.2%
- Revenue
- 1,840,966€
- Revenue change 2024→2025
- -26.9%
- Profit
- 33,805€
- Margin
- 1.8%
- Employees
- 1
- Payroll cost/emp./mo*
- 2,417€
- 94California Montenegro03058387 · HospitalityRevenue share0.2%
- Revenue
- 1,837,499€
- Revenue change 2024→2025
- +4.1%
- Profit
- 528€
- Margin
- 0.0%
- Employees
- 29
- Payroll cost/emp./mo*
- 1,272€
- 95Imperiall Carević03110982 · HospitalityRevenue share0.2%
- Revenue
- 1,836,794€
- Revenue change 2024→2025
- +48.5%
- Profit
- -155,919€
- Margin
- -8.5%
- Employees
- 31
- Payroll cost/emp./mo*
- 1,557€
- 96First Line Software03413772 · TechnologyRevenue share0.2%
- Revenue
- 1,832,615€
- Revenue change 2024→2025
- -37.8%
- Profit
- -81,623€
- Margin
- -4.5%
- Employees
- 106
- Payroll cost/emp./mo*
- 1,067€
- 97Avanglion Mne02828855 · TradeRevenue share0.2%
- Revenue
- 1,816,022€
- Revenue change 2024→2025
- +10.3%
- Profit
- 249,211€
- Margin
- 13.7%
- Employees
- 20
- Payroll cost/emp./mo*
- 1,449€
- 98SS Construction03611744 · ConstructionRevenue share0.2%
- Revenue
- 1,815,320€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- 433,477€
- Margin
- 23.9%
- Employees
- 1
- Payroll cost/emp./mo*
- 713€
- 99Globtour Montenegro02090147 · Administrative servicesRevenue share0.2%
- Revenue
- 1,778,814€
- Revenue change 2024→2025
- -4.7%
- Profit
- 21,742€
- Margin
- 1.2%
- Employees
- 7
- Payroll cost/emp./mo*
- 1,051€
- 100Infinity Company03083276 · Transport & logisticsRevenue share0.2%
- Revenue
- 1,778,370€
- Revenue change 2024→2025
- -5.4%
- Profit
- 394,392€
- Margin
- 22.2%
- Employees
- 18
- Payroll cost/emp./mo*
- 1,078€
* 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 →
Companies in Budva ranked by revenue 2025 →
Source: Tax Administration / CRPSCurrency: EUR