Teslak Krunoslav, PhD.

Economic analysis of even-aged fir stand management was illustrated using the example of the
forests of the Croatian Dinaric region, as well as their transformation into more stable unevenaged
structures. Two scenarios (even-aged, uneven-aged) were simulated against the backdrop
of the existing forest stand structure of future forest stand management during a 140-year
period using forest growth modeling software MOSES version 3.0 in order to identify economic
differences amongst different scenarios both at stand level and at forest level. The research
included forest management analysis throughout the transformation period and subsequently
the continuation of balanced state forest management. Moreover, the research also
provided the opportunity of forest purchase within the price range from 1000 to 12,500 EUR/ha,
amid assumed fluctuation of selling prices of timber assortments throughout the simulation
period. Discount rates from 1% to 5% were used during the economic analysis. The research
findings showed that, according to harvesting costs, Net Present Value and Internal Rate of
Return, uneven-aged forest management system, including the transformation period, achieved
superior economic results, albeit at discount rates that exceeded 1.24%. The conclusion was
reached that, according to all economic criteria, uneven-aged mixed silver fir-beech management
system is preferred compared with the pure even-aged silver fir management.