Revenue
7.3% of Montenegro's revenue
3,730 companies earned 1.28b€ in 2025, 7.3% of all company revenue in Montenegro. It ranks 4 of 18 sectors by revenue. Revenue has grown 4.4× since 2015.
7.3% of Montenegro's revenue
1,317 with at most one employee
Largest employer: Budvanska Rivijera (600)
Total profit: 40.50m€
Average per employee, not per company
Revenue in € million (bars) and filing companies (below), 2015–2025
| Year | Revenue | Companies |
|---|---|---|
| 2015 | 293,412,112€ | 1,514 |
| 2016 | 326,915,110€ | 1,760 |
| 2017 | 408,696,660€ | 1,996 |
| 2018 | 478,761,075€ | 2,271 |
| 2019 | 555,265,409€ | 2,491 |
| 2020 | 259,902,954€ | 2,701 |
| 2021 | 541,241,109€ | 2,889 |
| 2022 | 805,288,344€ | 3,220 |
| 2023 | 1,029,042,003€ | 3,598 |
| 2024 | 1,186,045,662€ | 3,784 |
| 2025 (Preliminary) | 1,281,069,991€ | 3,730 |
Growth is measured on the same companies, which filed for both years.
Share of the sector's revenue
Revenue change vs 2024, companies with at least 1m€ that year
Employees and payroll cost per employee per month*
Ranked by total revenue · Showing 2701–2750 of 3,730
* 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 →
Totals include 354 sole proprietors: natural persons whose statements are shown only in aggregate, never by name. The company count excludes them. How we calculate →
| Employees |
|---|
| Payroll cost/emp./mo* |
|---|
| 2701 | Ćela03738825 · Nikšić | <0.1% | 3,407€ | No filing for 2024. | -8,107€ | -238.0% | 3 | 320€ |
| 2702 | Perkl Company03787028 · Kotor | <0.1% | 3,372€ | No filing for 2024. | -1,133€ | -33.6% | 1 | — |
| 2703 | Zminac 403035140 · Bijelo Polje | <0.1% | 3,365€ | +19.1% | -5,193€ | -154.3% | 1 | 677€ |
| 2704 | Joy Neka03683788 · Tivat | <0.1% | 3,350€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,525€ | -254.5% | 2 | 480€ |
| 2705 | Bell & Bell03794652 · Nikšić | <0.1% | 3,330€ | No filing for 2024. | -291€ | -8.7% | 0 | — |
| 2706 | S&N 202303574245 · Cetinje | <0.1% | 3,310€ | -66.8% | -910€ | -27.5% | 1 | — |
| 2707 | Venalis Group03254151 · Herceg Novi | <0.1% | 3,250€ | -34.3% | -5,532€ | -170.2% | 1 | 677€ |
| 2708 | Sonigor03796027 · Nikšić | <0.1% | 3,245€ | No filing for 2024. | 101€ | 3.1% | 3 | — |
| 2709 | Heritage Hotels03333329 · Kotor | <0.1% | 3,242€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -8,039€ | -248.0% | 1 | 922€ |
| 2710 | Photo Stories 03103586936 · Herceg Novi | <0.1% | 3,207€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -5,054€ | -157.6% | 1 | 678€ |
| 2711 | Alex Mne03249174 · Podgorica | <0.1% | 3,154€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -3,517€ | -111.5% | 1 | 551€ |
| 2712 | Pržišta Company03409422 · Danilovgrad | <0.1% | 3,100€ | -62.5% | -10,093€ | -325.6% | 2 | 310€ |
| 2713 | Kca Trading03691969 · Tivat | <0.1% | 3,088€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -5,329€ | -172.6% | 1 | 678€ |
| 2714 | Gluten Morgen03669394 · Cetinje | <0.1% | 3,026€ | -54.5% | -5,387€ | -178.0% | 2 | — |
| 2715 | Friizer6903716643 · Herceg Novi | <0.1% | 3,024€ | No filing for 2024. | -13,272€ | -438.9% | 1 | 1,132€ |
| 2716 | Denis - Company02761238 · Bar | <0.1% | 3,000€ | -97.8% | -14,895€ | -496.5% | 1 | 896€ |
| 2717 | Miogos03466752 · Podgorica | <0.1% | 2,998€ | +13.7% | -8,678€ | -289.5% | 2 | 381€ |
| 2718 | The Royal Beach02982803 · Ulcinj | <0.1% | 2,965€ | -98.8% | -62,858€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 1 | 451€ |
| 2719 | Solidbase03778681 · Bar | <0.1% | 2,933€ | No filing for 2024. | -6,550€ | -223.3% | 2 | — |
| 2720 | Sitna Luka02247267 · Podgorica | <0.1% | 2,901€ | -25.5% | -7,005€ | -241.5% | 1 | 720€ |
| 2721 | Toljić02641895 · Budva | <0.1% | 2,841€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -1,910€ | -67.2% | 1 | 335€ |
| 2722 | Bam PG03795454 · Podgorica | <0.1% | 2,801€ | No filing for 2024. | -9,209€ | -328.8% | 3 | — |
| 2723 | SD Radmilica03597903 · Andrijevica | <0.1% | 2,801€ | +33.8% | -10,268€ | -366.6% | 1 | 962€ |
| 2724 | Popovići GMM03772977 · Danilovgrad | <0.1% | 2,748€ | No filing for 2024. | -1,256€ | -45.7% | 1 | 328€ |
| 2725 | Baba Ganus03090116 · Podgorica | <0.1% | 2,733€ | -81.3% | -1,763€ | -64.5% | 1 | — |
| 2726 | Equicamp03591131 · Plužine | <0.1% | 2,708€ | -74.9% | -11,041€ | -407.7% | 2 | 571€ |
| 2727 | Fox Positive Tech03486087 · Herceg Novi | <0.1% | 2,600€ | +62.5% | -9,789€ | -376.5% | 1 | 927€ |
| 2728 | Smokva Bay Resort03280250 · Budva | <0.1% | 2,600€ | -73.0% | -6,620€ | -254.6% | 1 | 680€ |
| 2729 | VMK Team03795632 · Bar | <0.1% | 2,585€ | No filing for 2024. | 96€ | 3.7% | 1 | — |
| 2730 | 8503331482 · Andrijevica | <0.1% | 2,567€ | -19.6% | 0€ | 0.0% | 1 | — |
| 2731 | Adriatico Company02383110 · Budva | <0.1% | 2,520€ | -91.4% | -75,380€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 3 | 450€ |
| 2732 | Pod Starom Kruškom03496163 · Pljevlja | <0.1% | 2,517€ | -14.9% | -6,730€ | -267.4% | 1 | 675€ |
| 2733 | Nunnum Investment03410510 · Tivat | <0.1% | 2,500€ | +150.0% | -7,471€ | -298.8% | 1 | 619€ |
| 2734 | E Bianchina Holdings03533999 · Budva | <0.1% | 2,480€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -5,787€ | -233.3% | 1 | 678€ |
| 2735 | Etno Selo Vuković03503437 · Bijelo Polje | <0.1% | 2,404€ | -42.8% | -9,341€ | -388.6% | 1 | 508€ |
| 2736 | Meridian Hoteli02411008 · Podgorica | <0.1% | 2,400€ | 0.0% | -11,270€ | -469.6% | 1 | 458€ |
| 2737 | Riox02665280 · Bar | <0.1% | 2,400€ | +50.0% | 214€ | 8.9% | 1 | — |
| 2738 | Menead Tourism03433897 · Budva | <0.1% | 2,400€ | +2,723.5% | -17,334€ | -722.3% | 2 | 675€ |
| 2739 | Peace Group03627268 · Podgorica | <0.1% | 2,400€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -18,246€ | -760.3% | 2 | 456€ |
| 2740 | Alp-Cengiz03577236 · Budva | <0.1% | 2,392€ | -43.5% | -23,669€ | -989.5% | 1 | 901€ |
| 2741 | Crvena Glavica Investment03127001 · Podgorica | <0.1% | 2,351€ | -80.3% | -1,704,612€ | Margin not shown: it is beyond ±1,000% because revenue is too small for a meaningful ratio. | 4 | — |
| 2742 | Tifran Dva03362582 · Berane | <0.1% | 2,324€ | -37.3% | -7,846€ | -337.6% | 1 | 670€ |
| 2743 | Vučiji KRŠ03572927 · Pljevlja | <0.1% | 2,288€ | +160.6% | -1,606€ | -70.2% | 1 | — |
| 2744 | Kaća Čub03732053 · Berane | <0.1% | 2,269€ | No filing for 2024. | -7,368€ | -324.7% | 1 | 748€ |
| 2745 | True Partners03572595 · Budva | <0.1% | 2,200€ | +2,144.9% | -7,097€ | -322.6% | 1 | 677€ |
| 2746 | Kazak02864207 · Bar | <0.1% | 2,150€ | +79.2% | -9,859€ | -458.6% | 1 | 737€ |
| 2747 | WM Connect03727947 · Podgorica | <0.1% | 2,150€ | No filing for 2024. | 137€ | 6.4% | 1 | — |
| 2748 | Dogan-Turizm03585344 · Budva | <0.1% | 2,100€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -12,096€ | -576.0% | 1 | 670€ |
| 2749 | Allianz Kapital02650606 · Budva | <0.1% | 2,089€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -15,831€ | -757.8% | 1 | 590€ |
| 2750 | Glamping Montenegro03001199 · Kotor | <0.1% | 2,038€ | No meaningful percentage: the 2024 or current value is zero, negative, unknown or unreliable. | -7,052€ | -346.0% | 1 | 330€ |