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 1–50 of 166
* 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* |
|---|
| 1 | Maestral Hotels and Casinos02343029 · Arts & entertainment | 2.6% | 25,882,633€ | -2.4% | 1,966,177€ | 7.6% | 354 | 1,556€ |
| 2 | Sporting Group02314266 · Arts & entertainment | 1.5% | 15,185,453€ | +38.1% | 4,233,795€ | 27.9% | 274 | 895€ |
| 3 | Grad-Teatar02105152 · Arts & entertainment | 0.1% | 1,503,240€ | +14.1% | 107,594€ | 7.2% | 31 | 1,368€ |
| 4 | Radio Televizija Budva02005492 · Arts & entertainment | 0.1% | 1,318,488€ | +15.8% | -22,633€ | -1.7% | 66 | 1,368€ |
| 5 | Fedora03351050 · Arts & entertainment | <0.1% | 928,776€ | -7.8% | 84,068€ | 9.1% | 26 | 718€ |
| 6 | Mediteranski Sportski Centar02241358 · Arts & entertainment | <0.1% | 920,119€ | +15.9% | 95,322€ | 10.4% | 56 | 1,122€ |
| 7 | Sportsko Rekreativni Centar Budva02413388 · Arts & entertainment | <0.1% | 716,395€ | +0.0% | 40,608€ | 5.7% | 36 | 1,172€ |
| 8 | Arbun Commerce02110016 · Arts & entertainment | <0.1% | 491,696€ | -12.7% | 13,320€ | 2.7% | 13 | 882€ |
| 9 | Trentatre03457591 · Arts & entertainment | <0.1% | 470,000€ | +181.5% | 333,534€ | 71.0% | 1 | 3,351€ |
| 10 | MG Limitless03375447 · Arts & entertainment | <0.1% | 334,955€ | +146.7% | 114,650€ | 34.2% | 6 | 787€ |
| 11 | Teatro Mne03287475 · Arts & entertainment | <0.1% | 294,506€ | -8.6% | -26,020€ | -8.8% | 14 | 643€ |
| 12 | Trida-Me03077900 · Arts & entertainment | <0.1% | 212,874€ | -16.7% | -9,238€ | -4.3% | 1 | 404€ |
| 13 | Četvorka 44403608310 · Arts & entertainment | <0.1% | 192,319€ | +49.3% | -10,891€ | -5.7% | 8 | 496€ |
| 14 | Nand03120341 · Arts & entertainment | <0.1% | 166,089€ | +348.6% | 61,674€ | 37.1% | 4 | 610€ |
| 15 | Komuna02281023 · Arts & entertainment | <0.1% | 162,694€ | +8.9% | 1,996€ | 1.2% | 5 | 1,639€ |
| 16 | MRC03111598 · Arts & entertainment | <0.1% | 160,993€ | +38.0% | 17,818€ | 11.1% | 4 | 647€ |
| 17 | Morska Obala02275716 · Arts & entertainment | <0.1% | 152,821€ | -44.4% | -39,165€ | -25.6% | 4 | 637€ |
| 18 | LH Marketing03550273 · Arts & entertainment | <0.1% | 141,952€ | +204.1% | 19,010€ | 13.4% | 1 | 1,984€ |
| 19 | Lovćen Film02966964 · Arts & entertainment | <0.1% | 139,904€ | +510.8% | 8,943€ | 6.4% | 2 | 1,088€ |
| 20 | Balkan Art03487652 · Arts & entertainment | <0.1% | 139,698€ | +106.1% | 9,277€ | 6.6% | 5 | 743€ |
| 21 | Fitness Original03041654 · Arts & entertainment | <0.1% | 127,060€ | +62.5% | 21,191€ | 16.7% | 4 | 908€ |
| 22 | Vinyl M03184013 · Arts & entertainment | <0.1% | 125,217€ | +111.1% | 51,357€ | 41.0% | 1 | 1,395€ |
| 23 | Medialab03253589 · Arts & entertainment | <0.1% | 97,593€ | +66.2% | 26,184€ | 26.8% | 3 | 966€ |
| 24 | Cataleya Spa03196739 · Arts & entertainment | <0.1% | 95,736€ | +15.7% | -8,944€ | -9.3% | 5 | 673€ |
| 25 | Olymp & Kolos03403467 · Arts & entertainment | <0.1% | 95,207€ | +24.5% | 5,513€ | 5.8% | 2 | 874€ |
| 26 | Sokomont02646447 · Arts & entertainment | <0.1% | 90,878€ | +18.6% | 15,078€ | 16.6% | 2 | 1,019€ |
| 27 | Kovtunov Books03651665 · Arts & entertainment | <0.1% | 75,306€ | +201.0% | 48,241€ | 64.1% | 1 | 1,575€ |
| 28 | Adriaticland03481727 · Arts & entertainment | <0.1% | 57,708€ | -21.3% | -37,873€ | -65.6% | 4 | 833€ |
| 29 | Cosmos Montenegro03374904 · Arts & entertainment | <0.1% | 46,350€ | +11.0% | -64,104€ | -138.3% | 3 | 1,652€ |
| 30 | MMK Group03400662 · Arts & entertainment | <0.1% | 45,011€ | -81.9% | -189,073€ | -420.1% | 5 | 1,279€ |
| 31 | Budva Plus Mne03141616 · Arts & entertainment | <0.1% | 44,891€ | +112.2% | -3,811€ | -8.5% | 4 | 652€ |
| 32 | Unity Production03533808 · Arts & entertainment | <0.1% | 40,588€ | +202.9% | 12,197€ | 30.1% | 1 | 922€ |
| 33 | Predator Game03427552 · Arts & entertainment | <0.1% | 36,910€ | -26.4% | -13,406€ | -36.3% | 2 | 876€ |
| 34 | Jimart Design03703339 · Arts & entertainment | <0.1% | 32,610€ | No filing for 2024. | -37,878€ | -116.2% | 0 | — |
| 35 | 1244 Centar za Zdravlje i Performanse03680185 · Arts & entertainment | <0.1% | 30,857€ | +195.6% | -176€ | -0.6% | 3 | 677€ |
| 36 | Nora Fora03362868 · Arts & entertainment | <0.1% | 29,409€ | -47.4% | 2,629€ | 8.9% | 2 | 457€ |
| 37 | Meridian Management03557529 · Arts & entertainment | <0.1% | 29,302€ | +63.2% | -27,487€ | -93.8% | 6 | 631€ |
| 38 | Ingeniousity03519473 · Arts & entertainment | <0.1% | 27,753€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 15,801€ | 56.9% | 1 | 870€ |
| 39 | Big Wave03530639 · Arts & entertainment | <0.1% | 25,680€ | +30.7% | -2,625€ | -10.2% | 3 | 680€ |
| 40 | Armando-Montenegro03548953 · Arts & entertainment | <0.1% | 23,870€ | +225.2% | 8,730€ | 36.6% | 1 | 926€ |
| 41 | One Studio03777090 · Arts & entertainment | <0.1% | 23,596€ | No filing for 2024. | 13,115€ | 55.6% | 1 | 510€ |
| 42 | Multimedia Group02649918 · Arts & entertainment | <0.1% | 23,061€ | +140.2% | 1,692€ | 7.3% | 1 | 346€ |
| 43 | Ikostromkin03516709 · Arts & entertainment | <0.1% | 23,033€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | 14,136€ | 61.4% | 1 | 670€ |
| 44 | Era Creative Group03221938 · Arts & entertainment | <0.1% | 22,201€ | +587.6% | 3,293€ | 14.8% | 1 | 1,000€ |
| 45 | The Hand03278590 · Arts & entertainment | <0.1% | 21,824€ | -14.9% | -3,156€ | -14.5% | 3 | 670€ |
| 46 | Dukley Marina02349523 · Arts & entertainment | <0.1% | 20,963€ | -98.3% | -13,874€ | -66.2% | 1 | 1,052€ |
| 47 | Tennis Experience03287700 · Arts & entertainment | <0.1% | 19,921€ | -38.8% | 8,793€ | 44.1% | 2 | 423€ |
| 48 | Olive Padel Court03622185 · Arts & entertainment | <0.1% | 19,019€ | +37.3% | -13,344€ | -70.2% | 4 | 440€ |
| 49 | Liza K. Ballet School03621898 · Arts & entertainment | <0.1% | 18,854€ | +669.6% | 204€ | 1.1% | 1 | 1,467€ |
| 50 | Vitruvije03147037 · Arts & entertainment | <0.1% | 17,809€ | -11.2% | -5,390€ | -30.3% | 1 | 828€ |