Revenue
720.39m€5.0× since 2015
4.1% of Montenegro's revenue
Tivat
2,026 companies earned 720.39m€ in 2025, 4.1% of all company revenue in Montenegro. It ranks 5 of 25 municipalities by revenue. Revenue has grown 5.0× since 2015.
Municipality · 2025
Year
Overview
Companies
2,026+1,325 since 2015
124.0 per 1,000 residents · Montenegro 57.3
Employees
7,2362.6× since 2015
Largest employer: Adriatic Marinas (212)
Profit margin
4.0%2.1 pts below average
Total profit: 28.96m€
This municipality 4.0%Montenegro: 6.1%
Payroll cost/emp./mo*
1,505€21% above average
Average per employee, not per company
This municipality 1,505€Montenegro: 1,242€
Revenue and companies since 2015
FinalPreliminary
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 145,047,133€ | 701 |
| 2016 | 168,406,690€ | 724 |
| 2017 | 250,809,774€ | 814 |
| 2018 | 280,589,378€ | 995 |
| 2019 | 304,622,138€ | 1,113 |
| 2020 | 218,589,049€ | 1,230 |
| 2021 | 314,586,548€ | 1,346 |
| 2022 | 378,418,158€ | 1,640 |
| 2023 | 480,364,113€ | 1,861 |
| 2024 | 608,235,726€ | 1,966 |
| 2025 (Preliminary) | 720,385,269€ | 2,026 |
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 (1,822)
- 601.07m€ → 715.74m€
- Employees, same companies
- 6,604 → 6,991
- Payroll cost per employee, same companies
- 1,476€ → 1,546€
- Filed for 2025, not for 2024
- 204 companies · 4.64m€
- Filed for 2024, not for 2025
- 144 companies, 7.17m€ in 2024
Sectors and who is growing
Revenue by sector
Share of municipal revenue
Share in Montenegro- Hospitality 178.38m€Montenegro: 7.2%24.8%
- Construction 172.89m€Montenegro: 11.9%24.0%
- Trade 108.97m€Montenegro: 43.8%15.1%
- Arts & entertainment 67.84m€Montenegro: 2.7%9.4%
- Administrative services 46.00m€Montenegro: 2.3%6.4%
- Professional services 27.43m€Montenegro: 4.3%3.8%
- Real estate 25.08m€Montenegro: 1.3%3.5%
- Other sectors (11) 93.80m€13.0%
Fastest growing
Revenue change vs 2024, companies with at least 1m€ that year
- Design Interni1.23m€ → 2.30m€+87.6%
- Marković Grand Company1.95m€ → 3.61m€+85.0%
- A+ Yachting1.60m€ → 2.91m€+81.9%
- Adriatic Catering5.50m€ → 9.04m€+64.4%
- M Trans Company1.21m€ → 1.94m€+60.0%
Largest employers
Employees and payroll cost per employee per month*
- 2123,301€
- 1951,832€
- 1861,968€
- 1781,283€
- 1231,794€
All companies (2,026)
Ranked by total revenue · Showing 1–50 of 178
- 1Luštica Development02744597 · HospitalityRevenue share12.5%
- Revenue
- 90,337,909€
- Revenue change 2024→2025
- +13.0%
- Profit
- 574,487€
- Margin
- 0.6%
- Employees
- 116
- Payroll cost/emp./mo*
- 5,223€
- 2LB Hotels Management03201309 · HospitalityRevenue share1.3%
- Revenue
- 9,192,466€
- Revenue change 2024→2025
- +8.5%
- Profit
- -1,870,926€
- Margin
- -20.4%
- Employees
- 195
- Payroll cost/emp./mo*
- 1,832€
- 3Adriatic Catering02971917 · HospitalityRevenue share1.3%
- Revenue
- 9,038,959€
- Revenue change 2024→2025
- +64.4%
- Profit
- 447,397€
- Margin
- 4.9%
- Employees
- 123
- Payroll cost/emp./mo*
- 1,794€
- 4Primorje02008637 · HospitalityRevenue share0.8%
- Revenue
- 5,967,887€
- Revenue change 2024→2025
- +58.7%
- Profit
- 1,911,561€
- Margin
- 32.0%
- Employees
- 57
- Payroll cost/emp./mo*
- 2,428€
- 5Milo&Chayse03346242 · HospitalityRevenue share0.7%
- Revenue
- 4,775,022€
- Revenue change 2024→2025
- +27.6%
- Profit
- 1,216,391€
- Margin
- 25.5%
- Employees
- 40
- Payroll cost/emp./mo*
- 1,485€
- 6Food Style Mne02818124 · HospitalityRevenue share0.4%
- Revenue
- 2,749,909€
- Revenue change 2024→2025
- -13.6%
- Profit
- 135,721€
- Margin
- 4.9%
- Employees
- 43
- Payroll cost/emp./mo*
- 1,482€
- 7Pasta Fresca Mne03434338 · HospitalityRevenue share0.4%
- Revenue
- 2,641,881€
- Revenue change 2024→2025
- +678.2%
- Profit
- 67,112€
- Margin
- 2.5%
- Employees
- 43
- Payroll cost/emp./mo*
- 1,690€
- 8Ohm Mamula Montenegro03095924 · HospitalityRevenue share0.3%
- Revenue
- 2,484,251€
- Revenue change 2024→2025
- +56.7%
- Profit
- -3,483,042€
- Margin
- -140.2%
- Employees
- 62
- Payroll cost/emp./mo*
- 2,860€
- 9Radovanović02225883 · HospitalityRevenue share0.3%
- Revenue
- 2,334,059€
- Revenue change 2024→2025
- -1.5%
- Profit
- 233,686€
- Margin
- 10.0%
- Employees
- 52
- Payroll cost/emp./mo*
- 1,004€
- 10Zaliv Pro03326373 · HospitalityRevenue share0.3%
- Revenue
- 2,170,191€
- Revenue change 2024→2025
- -17.1%
- Profit
- 182,785€
- Margin
- 8.4%
- Employees
- 31
- Payroll cost/emp./mo*
- 1,367€
- 11Optimist02815796 · HospitalityRevenue share0.3%
- Revenue
- 2,137,097€
- Revenue change 2024→2025
- -2.2%
- Profit
- 67,390€
- Margin
- 3.2%
- Employees
- 19
- Payroll cost/emp./mo*
- 2,233€
- 12La Perla Hospitality03295419 · HospitalityRevenue share0.3%
- Revenue
- 2,030,704€
- Revenue change 2024→2025
- -69.1%
- Profit
- 163,229€
- Margin
- 8.0%
- Employees
- 13
- Payroll cost/emp./mo*
- 2,123€
- 13Mimoza02008564 · HospitalityRevenue share0.3%
- Revenue
- 1,982,480€
- Revenue change 2024→2025
- +12.6%
- Profit
- -189,033€
- Margin
- -9.5%
- Employees
- 51
- Payroll cost/emp./mo*
- 1,323€
- 14Mare Invest03293734 · HospitalityRevenue share0.3%
- Revenue
- 1,944,862€
- Revenue change 2024→2025
- +29.3%
- Profit
- 280,363€
- Margin
- 14.4%
- Employees
- 26
- Payroll cost/emp./mo*
- 1,289€
- 15Kafeterija Montenegro03198928 · HospitalityRevenue share0.2%
- Revenue
- 1,725,048€
- Revenue change 2024→2025
- +44.5%
- Profit
- 25,021€
- Margin
- 1.5%
- Employees
- 32
- Payroll cost/emp./mo*
- 1,476€
- 16Olive Invest02965887 · HospitalityRevenue share0.2%
- Revenue
- 1,638,014€
- Revenue change 2024→2025
- -8.1%
- Profit
- -1,079,353€
- Margin
- -65.9%
- Employees
- 50
- Payroll cost/emp./mo*
- 1,482€
- 17Pippo's Yacht Supplies02776081 · HospitalityRevenue share0.2%
- Revenue
- 1,568,712€
- Revenue change 2024→2025
- -12.1%
- Profit
- 83,012€
- Margin
- 5.3%
- Employees
- 32
- Payroll cost/emp./mo*
- 1,353€
- 18Mamula Hotel Operating Company03396592 · HospitalityRevenue share0.2%
- Revenue
- 1,517,004€
- Revenue change 2024→2025
- -37.3%
- Profit
- -705,027€
- Margin
- -46.5%
- Employees
- 10
- Payroll cost/emp./mo*
- 3,338€
- 19LB Leisure Management03347958 · HospitalityRevenue share0.2%
- Revenue
- 1,465,352€
- Revenue change 2024→2025
- +24.1%
- Profit
- -1,690,199€
- Margin
- -115.3%
- Employees
- 20
- Payroll cost/emp./mo*
- 6,750€
- 20Los Gueros03400107 · HospitalityRevenue share0.2%
- Revenue
- 1,385,974€
- Revenue change 2024→2025
- +27.4%
- Profit
- 46,126€
- Margin
- 3.3%
- Employees
- 16
- Payroll cost/emp./mo*
- 1,547€
- 21Manor Hotels03381145 · HospitalityRevenue share0.2%
- Revenue
- 1,272,396€
- Revenue change 2024→2025
- +6.9%
- Profit
- 52,128€
- Margin
- 4.1%
- Employees
- 24
- Payroll cost/emp./mo*
- 1,340€
- 22Zen Management03233049 · HospitalityRevenue share0.2%
- Revenue
- 1,234,619€
- Revenue change 2024→2025
- +85.3%
- Profit
- 142,283€
- Margin
- 11.5%
- Employees
- 14
- Payroll cost/emp./mo*
- 1,690€
- 23September Hotels02856484 · HospitalityRevenue share0.2%
- Revenue
- 1,173,467€
- Revenue change 2024→2025
- +29.5%
- Profit
- 50,032€
- Margin
- 4.3%
- Employees
- 33
- Payroll cost/emp./mo*
- 966€
- 24Grano03595919 · HospitalityRevenue share0.1%
- Revenue
- 873,437€
- Revenue change 2024→2025
- +9.4%
- Profit
- -194,994€
- Margin
- -22.3%
- Employees
- 23
- Payroll cost/emp./mo*
- 1,705€
- 25Productivv03234932 · HospitalityRevenue share0.1%
- Revenue
- 823,378€
- Revenue change 2024→2025
- -39.6%
- Profit
- 251,633€
- Margin
- 30.6%
- Employees
- 10
- Payroll cost/emp./mo*
- 1,076€
- 26Babi Company03297772 · HospitalityRevenue share0.1%
- Revenue
- 774,630€
- Revenue change 2024→2025
- -33.9%
- Profit
- 1,812€
- Margin
- 0.2%
- Employees
- 26
- Payroll cost/emp./mo*
- 1,154€
- 27Divino Group03386503 · HospitalityRevenue share<0.1%
- Revenue
- 710,880€
- Revenue change 2024→2025
- -7.6%
- Profit
- 3,584€
- Margin
- 0.5%
- Employees
- 14
- Payroll cost/emp./mo*
- 1,742€
- 28Merlin Ponta03295974 · HospitalityRevenue share<0.1%
- Revenue
- 708,436€
- Revenue change 2024→2025
- +26.7%
- Profit
- 51,094€
- Margin
- 7.2%
- Employees
- 10
- Payroll cost/emp./mo*
- 1,177€
- 29Tormenta02972727 · HospitalityRevenue share<0.1%
- Revenue
- 696,051€
- Revenue change 2024→2025
- -21.9%
- Profit
- 11,337€
- Margin
- 1.6%
- Employees
- 11
- Payroll cost/emp./mo*
- 1,589€
- 30Corleone02855755 · HospitalityRevenue share<0.1%
- Revenue
- 662,617€
- Revenue change 2024→2025
- +0.6%
- Profit
- 224,881€
- Margin
- 33.9%
- Employees
- 7
- Payroll cost/emp./mo*
- 854€
- 31Sofi Cafe03553078 · HospitalityRevenue share<0.1%
- Revenue
- 644,805€
- Revenue change 2024→2025
- +83.6%
- Profit
- 130,375€
- Margin
- 20.2%
- Employees
- 14
- Payroll cost/emp./mo*
- 912€
- 32Mala Barka02900475 · HospitalityRevenue share<0.1%
- Revenue
- 632,860€
- Revenue change 2024→2025
- -3.4%
- Profit
- 2,564€
- Margin
- 0.4%
- Employees
- 14
- Payroll cost/emp./mo*
- 1,527€
- 33Montenegro Hospitality Group03066614 · HospitalityRevenue share<0.1%
- Revenue
- 606,856€
- Revenue change 2024→2025
- -15.5%
- Profit
- -281,732€
- Margin
- -46.4%
- Employees
- 18
- Payroll cost/emp./mo*
- 1,678€
- 34Kaluđerović Company02241366 · HospitalityRevenue share<0.1%
- Revenue
- 605,669€
- Revenue change 2024→2025
- +2.4%
- Profit
- -18,334€
- Margin
- -3.0%
- Employees
- 8
- Payroll cost/emp./mo*
- 1,402€
- 35Daj Group02983630 · HospitalityRevenue share<0.1%
- Revenue
- 593,269€
- Revenue change 2024→2025
- -6.8%
- Profit
- 9,482€
- Margin
- 1.6%
- Employees
- 12
- Payroll cost/emp./mo*
- 1,001€
- 36European International Restaurants and Catering03340929 · HospitalityRevenue share<0.1%
- Revenue
- 592,938€
- Revenue change 2024→2025
- +10.2%
- Profit
- -226,493€
- Margin
- -38.2%
- Employees
- 12
- Payroll cost/emp./mo*
- 1,021€
- 37Uvm Company03411338 · HospitalityRevenue share<0.1%
- Revenue
- 592,014€
- Revenue change 2024→2025
- +35.5%
- Profit
- 48,294€
- Margin
- 8.2%
- Employees
- 15
- Payroll cost/emp./mo*
- 1,138€
- 38LB Leisure Facilities Management03626121 · HospitalityRevenue share<0.1%
- Revenue
- 563,629€
- Revenue change 2024→2025
- +384.2%
- Profit
- -258,039€
- Margin
- -45.8%
- Employees
- 20
- Payroll cost/emp./mo*
- 2,168€
- 39Agape Group03699072 · HospitalityRevenue share<0.1%
- Revenue
- 521,694€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -81,453€
- Margin
- -15.6%
- Employees
- 1
- Payroll cost/emp./mo*
- 13,884€
- 40Jamie's Italian Mne03704335 · HospitalityRevenue share<0.1%
- Revenue
- 511,638€
- Revenue change 2024→2025
- No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable.
- Profit
- -257,635€
- Margin
- -50.4%
- Employees
- 13
- Payroll cost/emp./mo*
- 2,411€
- 41Take Off03310248 · HospitalityRevenue share<0.1%
- Revenue
- 478,602€
- Revenue change 2024→2025
- +129.3%
- Profit
- -17,026€
- Margin
- -3.6%
- Employees
- 9
- Payroll cost/emp./mo*
- 1,864€
- 42Teodo02740648 · HospitalityRevenue share<0.1%
- Revenue
- 477,538€
- Revenue change 2024→2025
- +24.6%
- Profit
- 4,387€
- Margin
- 0.9%
- Employees
- 16
- Payroll cost/emp./mo*
- 684€
- 43Antares02332477 · HospitalityRevenue share<0.1%
- Revenue
- 471,052€
- Revenue change 2024→2025
- -0.1%
- Profit
- 427€
- Margin
- 0.1%
- Employees
- 13
- Payroll cost/emp./mo*
- 1,082€
- 44Mind Company03163571 · HospitalityRevenue share<0.1%
- Revenue
- 465,660€
- Revenue change 2024→2025
- +879.7%
- Profit
- 309,529€
- Margin
- 66.5%
- Employees
- 10
- Payroll cost/emp./mo*
- 644€
- 45Food District03552322 · HospitalityRevenue share<0.1%
- Revenue
- 460,003€
- Revenue change 2024→2025
- +29.3%
- Profit
- -51,350€
- Margin
- -11.2%
- Employees
- 8
- Payroll cost/emp./mo*
- 1,172€
- 46Vapiano03066622 · HospitalityRevenue share<0.1%
- Revenue
- 459,924€
- Revenue change 2024→2025
- +12.1%
- Profit
- 40,164€
- Margin
- 8.7%
- Employees
- 9
- Payroll cost/emp./mo*
- 657€
- 47In Style02415062 · HospitalityRevenue share<0.1%
- Revenue
- 437,364€
- Revenue change 2024→2025
- -2.8%
- Profit
- -29,726€
- Margin
- -6.8%
- Employees
- 10
- Payroll cost/emp./mo*
- 1,065€
- 48SDS Company02857987 · HospitalityRevenue share<0.1%
- Revenue
- 399,800€
- Revenue change 2024→2025
- +17.1%
- Profit
- 13,900€
- Margin
- 3.5%
- Employees
- 7
- Payroll cost/emp./mo*
- 1,515€
- 49Francesković02073510 · HospitalityRevenue share<0.1%
- Revenue
- 383,283€
- Revenue change 2024→2025
- +1.7%
- Profit
- -4,452€
- Margin
- -1.2%
- Employees
- 9
- Payroll cost/emp./mo*
- 726€
- 50Marinero Trade02665492 · HospitalityRevenue share<0.1%
- Revenue
- 379,486€
- Revenue change 2024→2025
- -7.6%
- Profit
- -23,814€
- Margin
- -6.3%
- Employees
- 14
- Payroll cost/emp./mo*
- 810€
* 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 Tivat ranked by revenue 2025 →
Source: Tax Administration / CRPSCurrency: EUR