Growth of the construction industry in Montenegro: Business analysis for 2023

The construction industry in Montenegro experienced significant changes in 2023, with variations in revenues and profitability among leading companies. According to data, the ten largest construction firms generated total revenues of 317.12 million euros and a net profit of 18.1 million euros. Source: Investitor

Financial indicators of leading companies

• Bemax: Recorded revenue of 78.4 million euros, representing a decrease of 16.6% compared to the previous year. Net profit amounted to 2.8 million euros, marking a decline of 69.5%. Source : Investitor
• Novi Volvox: Generated revenue of 66 million euros, with a net profit of 2.38 million euros, representing a drop of 8.1% in revenue and 10.6% in profit compared to the previous year. Source: Investitor
• Eurozox: Reported revenue growth to 29.4 million euros and a net profit of 1.16 million euros, placing it among the leading companies in the sector. Source:  Investitor

Challenges in the Construction Sector

In addition to financial fluctuations, the sector faces significant challenges, particularly concerning the shortage of skilled labor. This issue was highlighted in a session of the Construction and Building Materials Industry Board of the Chamber of Commerce of Montenegro, where it was emphasized that the lack of qualified personnel could slow down the further development of the industry. 
Source: Komora

Conclusion

The construction industry in Montenegro demonstrates resilience despite financial challenges and labor force issues. Continuous monitoring of market trends and investment in workforce training will be crucial in maintaining a positive trend and further sector development.

For more detailed information and analyses, visit the official websites of relevant institutions and follow the latest reports on the state of the construction industry in Montenegro.

Sources https://investitor.me https://www.portalanalitika.me