Montenegro— ME

Company data in Montenegro, by industry

Browse Montenegro company directories across 56 industries — 92,606 businesses in the InfobelPRO database, registry-sourced from official Montenegro business registry and enriched with firmographics, location, financials and group structure.

92,606

Registered companies

ELEKTROPRIVREDA CRNE GORE AD

Largest company

Non-specialised wholesale trade

Largest sector

35th

in Europe by count

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Rankings

Largest companies in Montenegro

By revenue, one row per corporate group — reported (actual) revenue, updated September 2026.

#	Company (group)	Industry	HQ	Revenue (USD)
1	ELEKTROPRIVREDA CRNE GORE AD	Electric power generation, transmission and distribution	Nikšić	$440M
2	VOLI TRADE	Non-specialised wholesale trade	Podgorica	$382M
3	HARD DISCOUNT LAKOVIC	Non-specialised wholesale trade	Podgorica	$323M
4	IDEA - CG	Other retail sale in non-specialised stores	Podgorica	$301M
5	JUGOPETROL	Wholesale of solid, liquid and gaseous fuels and related products	Podgorica	$270M
6	ZDRAVSTVENA USTANOVA APOTEKE CRNE GORE "MONTEFARM"-	Dispensing chemist in specialised stores	Podgorica	$176M
7	CRNOGORSKA KOMERCIJALNA BANKA	Other monetary intermediation	Podgorica	$175M
8	MTEL	Wireless telecommunications activities	Podgorica	$175M
9	GLOSARIJ	Wholesale of pharmaceutical goods	Podgorica	$151M
10	EXPO COMMERCE	Retail sale in non-specialised stores with food, beverages or tobacco predominating	Podgorica	$145M
11	CEDIS	Electric power generation, transmission and distribution	Podgorica	$136M
12	BAR-KOD	Non-specialised wholesale trade	Podgorica	$134M
13	S PRESS +	Non-specialised wholesale trade	Podgorica	$105M
14	CRNOGORSKI ELEKTOPRENOSNI SISTEM	Electric power generation, transmission and distribution	Podgorica	$103M
15	INA -CRNA GORA	Wholesale of solid, liquid and gaseous fuels and related products	Podgorica	$101M

Top 15 of 25 · KIPS, CRNOGORSKI TELEKOM, PLUS, DRUSTVO ZA PROIZVODNJU,PROMET I USLUGE "MESO-PROMET" D.O.O. BIJELO POLJE, NLB BANKA, DRUSTVO ZA TRANSPORT PUTNIKA I ROBE U VAZDUSNOM SAOBRACAJU "MONTENEGRO AIRLINES"A.D. PODGORICA, BEMAX, HIPOTEKARNA BANKA, OKOV, FARMEGRA follow. Methodology →

ELEKTROPRIVREDA CRNE GORE AD leads by reported revenue at $440M, the largest of 25 ranked corporate groups.

Coverage

Companies by industry

The B2B industries we cover, ranked by number of companies. Each links to the full directory.

Retail companies

13,410

Construction companies

10,559

Distribution & wholesale

9,522

Manufacturing companies

5,665

Consulting companies

3,660

+ 51 more industries below ↓

Retail companies is the most populated sector we cover, with 13,410 companies — 14% of Montenegro's 92,606 registered.

Distribution

Company size & revenue

By number of employees

1–4

80,428

5–9

5,533

10–19

1,861

20–49

909

50–99

254

100–199

166

200–499

500–999

1000+

The 1–4 band is shown with a broken bar — it is ~15× the next band; the smaller bands are scaled against each other so they stay readable. 3,300 companies have no disclosed headcount (excluded).

Around 90% of companies with disclosed headcount employ fewer than five people, so the market skews heavily toward micro-enterprises.

By revenue (local currency)

1–100K

30,697

100K-499K

34,799

500K-999K

3,423

1M-4.99M

1,975

5M-9.99M

260

10M-49.99M

217

50M-99.99M

100M-499.99M

21,193 companies have no disclosed revenue (excluded from the chart).

The most common disclosed-revenue band is 100K-499K, covering 49% of companies with reported revenue.

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92,606 companies with firmographics, financials and corporate group structure — filtered by industry, size, region and revenue.

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Group linkage

Corporate structure in Montenegro

How much of the market is part of a corporate group vs independent.

Part of a corporate group

96%

Independent

4% of companies belong to a corporate group; the remaining 96% operate independently.

Corporate groups

Largest corporate groups in Montenegro

Montenegrin-headquartered groups ranked by total group entities worldwide — a measure of corporate reach.

#	Group	Group entities (worldwide)
1	MPM	26
2	HTP VILE OLIVA	18
3	ALTER MODUS	16
4	CELEBIC	15
5	KUCA HEMIJE	15
6	EXPO COMMERCE	14
7	UNO-NK	13
8	DRUSTVO SA OGRANICENOM ODGOVORNOSCU "TEHNO MAX" - PODGORICA	11
9	ZETAGRADNJA	11
10	Prijestonica Cetinje	11

Group entities = total members of the corporate family worldwide, for groups whose ultimate parent is in Montenegro.

MPM is the largest corporate group headquartered in Montenegro, with 26 entities worldwide.

Foreign ownership

Foreign-owned vs domestic

Among Montenegro's larger companies, the share ultimately controlled from abroad — and the leading countries of ownership.

34%

Foreign-owned

66%

Montenegrin-owned

Leading countries of ownership

Serbia

16.1%

Cyprus

8.5%

Switzerland

Austria

Croatia

5.5%

Shares calculated on the largest companies by revenue with ownership data available, not an absolute national figure.

Serbia is the leading country of foreign ownership, at 16.1%.

FAQ

Montenegro company data — frequently asked questions

There are 92,606 registered companies in Montenegro across all sectors, from sole traders to large enterprises.

By reported revenue, ELEKTROPRIVREDA CRNE GORE AD is the largest company in Montenegro, followed by VOLI TRADE and HARD DISCOUNT LAKOVIC.

Non-specialised wholesale trade, Restaurants and mobile food service activities, Construction of residential and non-residential buildings have the most registered companies.

You can request a free sample or access the full Montenegro database, filtered by industry, size, region and revenue, via InfobelPRO.

Sourced from the Infobel DaaS database. The largest-companies ranking is consolidated at corporate-group level (one row per group) and shows reported (actual) revenue in USD; modeled figures are excluded. Distributions cover all registered companies. Industry directories use a NACE-based B2B taxonomy. Last updated September 2026.

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