Revenue
5.7% of Montenegro's revenue
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.
5.7% of Montenegro's revenue
202.3 per 1,000 residents · Montenegro 57.3
Largest employer: Budvanska Rivijera (600)
Total profit: 26.90m€
Average per employee, not per company
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
Growth is measured on the same companies, which filed for both years.
Share of municipal revenue
Share in MontenegroRevenue change vs 2024, companies with at least 1m€ that year
Employees and payroll cost per employee per month*
Ranked by total revenue · Showing 101–150 of 5,552
* 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 →
| Employees |
|---|
| Payroll cost/emp./mo* |
|---|
| 101 | Arco Inzenjering03076377 · Construction | 0.2% | 1,767,071€ | +51.1% | 48,840€ | 2.8% | 6 | 888€ |
| 102 | R-Hotels03393186 · Hospitality | 0.2% | 1,747,241€ | +41.9% | 403,164€ | 23.1% | 24 | 1,026€ |
| 103 | Otpadne Vode03304388 · Energy, water & waste | 0.2% | 1,743,432€ | +10.1% | 7,759€ | 0.4% | 28 | 1,890€ |
| 104 | Medusa Company03392465 · Hospitality | 0.2% | 1,711,569€ | +18.5% | 259,161€ | 15.1% | 24 | 1,214€ |
| 105 | Stara Boka02422450 · Trade | 0.2% | 1,688,403€ | +14.6% | 86,891€ | 5.1% | 16 | 1,296€ |
| 106 | MTK - Commerce02397528 · Trade | 0.2% | 1,680,687€ | -5.1% | 54,754€ | 3.3% | 18 | 1,328€ |
| 107 | Ktitor Budva Company02785196 · Hospitality | 0.2% | 1,676,856€ | -7.3% | 33,270€ | 2.0% | 36 | 880€ |
| 108 | Decoral - Line03215164 · Construction | 0.2% | 1,662,460€ | +137.3% | 300,612€ | 18.1% | 14 | 720€ |
| 109 | Terrae Car - Vinarija Marković02426013 · Agriculture | 0.2% | 1,662,068€ | +38.4% | 552,662€ | 33.3% | 43 | 770€ |
| 110 | Jaz Express02414651 · Professional services | 0.2% | 1,645,779€ | -21.9% | 72,611€ | 4.4% | 26 | 937€ |
| 111 | BS Construction03377326 · Construction | 0.2% | 1,608,307€ | +3.9% | 60,414€ | 3.8% | 14 | 1,761€ |
| 112 | Duomo MN03558096 · Hospitality | 0.2% | 1,608,153€ | +43.8% | 103,583€ | 6.4% | 28 | 1,678€ |
| 113 | Carat02420686 · Construction | 0.2% | 1,606,771€ | -44.0% | 231,269€ | 14.4% | 3 | — |
| 114 | Petrohotel02326175 · Hospitality | 0.2% | 1,604,650€ | -2.9% | 19,700€ | 1.2% | 30 | 1,177€ |
| 115 | LC Profil03329119 · Manufacturing | 0.2% | 1,583,929€ | +42.0% | 225,868€ | 14.3% | 7 | 1,601€ |
| 116 | Žig - Ing02961164 · Construction | 0.2% | 1,571,567€ | +30.2% | 214,915€ | 13.7% | 4 | 4,363€ |
| 117 | MNM Trading03293173 · Construction | 0.2% | 1,564,700€ | -27.2% | -538,840€ | -34.4% | 25 | 852€ |
| 118 | Black Mountain Boats03572048 · Trade | 0.2% | 1,555,297€ | +16,486.3% | 46,667€ | 3.0% | 2 | 1,693€ |
| 119 | Milmedika02983613 · Health & social care | 0.2% | 1,536,718€ | +10.0% | 302,531€ | 19.7% | 33 | 1,786€ |
| 120 | Top Hill02786818 · Hospitality | 0.2% | 1,525,819€ | -5.9% | -89,989€ | -5.9% | 13 | 4,058€ |
| 121 | Arhibiro03081354 · Professional services | 0.2% | 1,515,798€ | +441.9% | 132,810€ | 8.8% | 7 | 1,128€ |
| 122 | Grad-Teatar02105152 · Arts & entertainment | 0.1% | 1,503,240€ | +14.1% | 107,594€ | 7.2% | 31 | 1,368€ |
| 123 | Montenegro-Express Group02029707 · Real estate | 0.1% | 1,448,758€ | +282.9% | 96,416€ | 6.7% | 4 | 3,185€ |
| 124 | CMM02742187 · Real estate | 0.1% | 1,431,014€ | -7.8% | 53,476€ | 3.7% | 42 | 1,259€ |
| 125 | Bana Invest03189830 · Trade | 0.1% | 1,427,371€ | +27,020.9% | 547,689€ | 38.4% | 4 | 643€ |
| 126 | Buil'd02850087 · Real estate | 0.1% | 1,427,041€ | -10.7% | 234,122€ | 16.4% | 7 | 900€ |
| 127 | Mediteran Company02755084 · Construction | 0.1% | 1,418,661€ | -28.5% | 53,302€ | 3.8% | 27 | 755€ |
| 128 | Mitrom Comerc02227002 · Trade | 0.1% | 1,383,881€ | +2.4% | 104,224€ | 7.5% | 8 | 712€ |
| 129 | Mankrik03454517 · Technology | 0.1% | 1,381,904€ | -12.7% | 301,073€ | 21.8% | 16 | 3,908€ |
| 130 | Tadra-Commerce02066408 · Hospitality | 0.1% | 1,377,164€ | -1.3% | 83,051€ | 6.0% | 26 | 1,461€ |
| 131 | KM Comerce02873222 · Hospitality | 0.1% | 1,367,149€ | +1.6% | 404,459€ | 29.6% | 20 | 821€ |
| 132 | SVK03463443 · Hospitality | 0.1% | 1,359,951€ | +277.8% | 351,571€ | 25.9% | 38 | 828€ |
| 133 | Byblos03403831 · Hospitality | 0.1% | 1,359,240€ | +13.7% | 215,160€ | 15.8% | 12 | 1,481€ |
| 134 | Tron Company02727820 · Construction | 0.1% | 1,350,844€ | -32.1% | 4,586€ | 0.3% | 12 | 921€ |
| 135 | Radio Televizija Budva02005492 · Arts & entertainment | 0.1% | 1,318,488€ | +15.8% | -22,633€ | -1.7% | 66 | 1,368€ |
| 136 | Morski Talas03158888 · Hospitality | 0.1% | 1,302,791€ | -7.0% | 243,281€ | 18.7% | 22 | 1,063€ |
| 137 | Shilo M03160785 · Hospitality | 0.1% | 1,295,411€ | -2.9% | 17,382€ | 1.3% | 28 | 1,456€ |
| 138 | Fullkon Group03257991 · Construction | 0.1% | 1,293,421€ | +1,595.1% | 368,489€ | 28.5% | 1 | 2,278€ |
| 139 | Italian Style02736705 · Construction | 0.1% | 1,287,864€ | +12.7% | 193,151€ | 15.0% | 2 | 2,841€ |
| 140 | Linux Development03421252 · Technology | 0.1% | 1,283,200€ | -36.0% | 1,457€ | 0.1% | 16 | 6,618€ |
| 141 | Sunraf Beach Properties03156745 · Hospitality | 0.1% | 1,282,409€ | -41.1% | -235,158€ | -18.3% | 8 | 845€ |
| 142 | Bono Sistem02906996 · Trade | 0.1% | 1,265,988€ | -1.1% | 94,043€ | 7.4% | 10 | 691€ |
| 143 | Vadjon02400758 · Hospitality | 0.1% | 1,258,573€ | -0.5% | 268,017€ | 21.3% | 16 | 1,369€ |
| 144 | Fancy Montenegro02780917 · Hospitality | 0.1% | 1,256,575€ | +13.1% | 127,643€ | 10.2% | — | — |
| 145 | Shanghai02914859 · Hospitality | 0.1% | 1,256,566€ | -11.2% | 48,877€ | 3.9% | 21 | 2,060€ |
| 146 | M & D - Hunter02661764 · Manufacturing | 0.1% | 1,242,435€ | +1.6% | 35,120€ | 2.8% | 26 | 1,437€ |
| 147 | Zeta Tauri03323340 · Construction | 0.1% | 1,232,769€ | -21.5% | 16,827€ | 1.4% | 4 | 3,933€ |
| 148 | Lazy03315533 · Real estate | 0.1% | 1,223,422€ | -13.4% | 104,762€ | 8.6% | 20 | 1,449€ |
| 149 | Virt Tehnics02758431 · Trade | 0.1% | 1,215,007€ | +17.6% | 40,405€ | 3.3% | 5 | 1,925€ |
| 150 | Byteminds Montenegro03434915 · Professional services | 0.1% | 1,203,330€ | +7.0% | 11,267€ | 0.9% | 6 | 4,047€ |