<p>A power converter module for converting an input voltage to an output voltage, comprising a heat sink (6) and at least one power semiconductor module (2) mounted on the heat sink (6), a transformer (100) for galvanically isolating the output current from the input current is integrated within the module such that transformer and heat-sink may be cooled by the same cooling stream. Such a module with integrated transformer may be substantially lighter and more compact than conventional arrangements where the transformer is located separately. Power converters according to the invention may be employed in rail transport vehicles.</p>